Methanex Co. (NASDAQ:MEOH – Get Rating) (TSE:MX) saw unusually-high trading volume on Friday . Approximately 72,911 shares traded hands during trading, a decline of 85% from the previous session’s volume of 483,441 shares.The stock last traded at $37.44 and had previously closed at $35.22.
Analysts Set New Price Targets
MEOH has been the subject of several recent research reports. TheStreet lowered Methanex from a “b-” rating to a “c-” rating in a report on Friday, October 28th. Piper Sandler reduced their target price on shares of Methanex from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Monday, October 10th. Barclays dropped their price target on shares of Methanex from $52.00 to $48.00 in a research note on Tuesday, October 11th. Royal Bank of Canada reduced their price objective on shares of Methanex from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, October 4th. Finally, Scotiabank upgraded Methanex from a “sector perform” rating to a “sector outperform” rating and set a $46.00 target price on the stock in a research report on Monday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.73.
Methanex Stock Up 8.3 %
The stock’s fifty day moving average price is $34.34 and its 200 day moving average price is $40.18. The company has a current ratio of 2.15, a quick ratio of 1.71 and a debt-to-equity ratio of 0.86. The stock has a market cap of $2.67 billion, a P/E ratio of 5.97 and a beta of 1.62.
Hedge Funds Weigh In On Methanex
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.
- Get a free copy of the StockNews.com research report on Methanex (MEOH)
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