Methanex Co. (MX) Receives “Outperform” Rating from BMO Capital Markets
Methanex Co. (TSE:MX) (NASDAQ:MEOH)‘s stock had its “outperform” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued on Monday. They presently have a C$57.00 price target on the stock. BMO Capital Markets’ target price suggests a potential downside of 7.42% from the stock’s current price.
Separately, Scotiabank restated a “sector perform” rating and set a C$69.00 target price on shares of Methanex in a report on Tuesday, July 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of C$59.50.
Methanex (TSE:MX) traded up 4.16% during midday trading on Monday, hitting $64.13. 503,296 shares of the company traded hands. The stock’s 50-day moving average is $58.59 and its 200-day moving average is $59.22. Methanex has a 12-month low of $38.09 and a 12-month high of $69.88. The firm has a market capitalization of $5.52 billion and a PE ratio of 24.95.
In related news, insider Simon Christopher Maddren sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of C$56.15, for a total transaction of C$280,750.00. Also, insider David Valembois sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of C$51.90, for a total transaction of C$103,800.00. In the last 90 days, insiders have sold 7,400 shares of company stock valued at $402,855.
Methanex Company Profile
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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