Methanex Co. (TSE:MX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Methanex Co. (TSE:MXGet Rating) (NASDAQ:MEOH) have received an average rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$56.17.

Several analysts recently commented on MX shares. Alembic Global Advisors reaffirmed a “hold” rating and set a C$40.00 target price on shares of Methanex in a report on Monday. Tudor Pickering reissued a “hold” rating and issued a C$55.00 price objective on shares of Methanex in a report on Wednesday, January 26th. Raymond James reissued a “hold” rating and issued a C$66.00 price objective on shares of Methanex in a report on Thursday, January 27th. BMO Capital Markets reissued a “buy” rating and issued a C$65.00 price objective on shares of Methanex in a report on Friday, April 29th. Finally, UBS Group boosted their target price on shares of Methanex to C$45.00 and gave the company a “sell” rating in a research report on Thursday, January 27th.

Shares of MX stock traded up C$0.08 during midday trading on Tuesday, hitting C$62.81. 101,988 shares of the company were exchanged, compared to its average volume of 184,250. The firm has a market capitalization of C$4.55 billion and a P/E ratio of 7.57. The company has a debt-to-equity ratio of 126.35, a quick ratio of 1.71 and a current ratio of 2.28. The firm’s 50 day moving average price is C$67.22 and its two-hundred day moving average price is C$60.33. Methanex has a 52 week low of C$37.85 and a 52 week high of C$71.63.

In related news, Director Nojan Abrary sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of C$69.93, for a total transaction of C$76,923.00. Following the completion of the sale, the director now owns 20,944 shares of the company’s stock, valued at C$1,464,613.92. Also, Director Vanessa James sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of C$68.15, for a total transaction of C$511,125.00. Following the sale, the director now directly owns 35,444 shares of the company’s stock, valued at approximately C$2,415,508.60. Insiders have sold 11,600 shares of company stock worth $798,048 over the last ninety days.

Methanex Company Profile (Get Rating)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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Analyst Recommendations for Methanex (TSE:MX)

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