Methanex (MX) Reaches New 52-Week High at $72.70
Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$72.70 and last traded at C$68.53, with a volume of 128763 shares traded. The stock had previously closed at C$68.25.
A number of equities analysts have commented on MX shares. Raymond James Financial downgraded shares of Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 target price on the stock. in a research note on Tuesday, October 31st. Royal Bank of Canada lifted their price target on shares of Methanex to C$73.00 and gave the company a “sector perform” rating in a research report on Friday, October 27th. BMO Capital Markets reiterated an “outperform” rating and set a C$57.00 price target on shares of Methanex in a research report on Monday, September 18th. Scotiabank reiterated a “sector perform” rating and set a C$67.00 price target on shares of Methanex in a research report on Wednesday, October 18th. Finally, TD Securities lifted their price target on shares of Methanex to C$75.50 and gave the company a “buy” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of C$70.10.
In other Methanex news, Director John Floren sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of C$72.85, for a total value of C$1,457,000.00. Also, Director Dean Richardson sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of C$49.93, for a total transaction of C$74,895.00. Insiders have sold a total of 29,550 shares of company stock valued at $2,039,009 in the last quarter.
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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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