Methanex Co. (MX) Given Average Recommendation of “Hold” by Brokerages
Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) have been assigned an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$71.24.
A number of research firms have weighed in on MX. Sanford C. Bernstein raised their price objective on shares of Methanex from C$42.95 to C$43.68 in a report on Thursday, April 26th. BMO Capital Markets reissued an “outperform” rating and set a C$80.00 price objective on shares of Methanex in a report on Wednesday, May 23rd.
TSE MX opened at C$92.06 on Friday. Methanex has a one year low of C$54.17 and a one year high of C$97.33.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 30th. Shareholders of record on Sunday, September 16th will be issued a dividend of $0.434 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.74 dividend on an annualized basis and a yield of 1.89%. This is a boost from Methanex’s previous quarterly dividend of $0.43.
In other news, insider Kevin Price sold 835 shares of Methanex stock in a transaction on Monday, July 30th. The shares were sold at an average price of C$89.72, for a total value of C$74,916.20. Also, Director Paul Daoust sold 9,310 shares of Methanex stock in a transaction on Thursday, May 31st. The shares were sold at an average price of C$90.00, for a total transaction of C$837,900.00. In the last three months, insiders have sold 19,855 shares of company stock worth $1,779,908.
Methanex Company Profile
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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