Scotiabank Reiterates Sector Perform Rating for Methanex Co. (MX)
Methanex Co. (TSE:MX) (NASDAQ:MEOH)‘s stock had its “sector perform” rating reissued by Scotiabank in a research note issued on Wednesday. They presently have a C$67.00 target price on the stock. Scotiabank’s price target suggests a potential upside of 7.15% from the stock’s current price.
Separately, BMO Capital Markets reissued an “outperform” rating and set a C$57.00 price target on shares of Methanex in a research report on Monday, September 18th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of C$59.10.
Methanex (TSE MX) opened at 62.53 on Wednesday. Methanex has a one year low of $46.21 and a one year high of $69.88. The firm has a market capitalization of $5.39 billion and a PE ratio of 24.33. The stock has a 50 day moving average of $62.99 and a 200-day moving average of $59.21.
In other Methanex news, insider Simon Christopher Maddren sold 5,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of C$56.15, for a total value of C$280,750.00. Also, insider David Valembois sold 2,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of C$51.90, for a total value of C$103,800.00. Over the last three months, insiders have sold 7,400 shares of company stock worth $402,855.
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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