Methanex Co. (TSE:MX) Rating Reiterated by Scotiabank
Methanex Co. (TSE:MX) (NASDAQ:MEOH)‘s stock had its “sector perform” rating reiterated by analysts at Scotiabank in a note issued to investors on Tuesday, StockTargetPrices.com reports. They presently have a C$69.00 target price on the stock. Scotiabank’s price target suggests a potential upside of 24.44% from the stock’s current price.
Separately, Royal Bank Of Canada cut their price objective on shares of Methanex to C$73.50 and set a “sector perform” rating on the stock in a research report on Friday, April 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of C$58.70.
Shares of Methanex (MX) opened at 55.45 on Tuesday. Methanex has a 52 week low of $35.01 and a 52 week high of $69.88. The company’s 50 day moving average price is $56.51 and its 200-day moving average price is $61.02. The firm has a market capitalization of $4.90 billion and a PE ratio of 34.98.
In related news, Director Mohamed Shindy acquired 1,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average price of C$43.54 per share, with a total value of C$65,310.00. Also, Director Paul Hexter sold 2,000 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of C$55.75, for a total transaction of C$111,500.00. Insiders have bought a total of 2,030 shares of company stock worth $96,218 in the last three months.
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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