Black Diamond Group Ltd. (BDI:TSX) has signed a new three-year contract through its 50/50 Black Diamond Dene Limited Partnership for a remote camp that will be established for working on the Cordova Shale located in British Columbia.

The camp, which will be established in the fall, will house 264 people and will require around 80 units of capital equipment and a $10 million investment. Raymond James predicts that since Black Diamond probably doesn't own the required equipment, it will lease what it needs into the Partnership and generate rent through that leasing arrangement.

Although Black Diamond's stock has lost some value along with the rest of the market, it has been outperforming the other stocks in its peer group. Raymond James has provided its guidance by providing Black Diamond with an Outperform rating and a target share price of C$17.50. This stock is based around a 6.9 times multiple of 2012 estimated EV/EBITDA.

Black Diamond Group's stock opened at C$13.90 on September 30 and hit a 52-week high/low of C$16.18 and C$8.73, respectively.