Methanex (NASDAQ:MEOH) Stock Rating Lowered by Cibc Captl Mkts

Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by stock analysts at Cibc Captl Mkts from a “strong-buy” rating to a “hold” rating in a research note issued on Friday,Zacks.com reports.

A number of other research analysts have also commented on MEOH. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Methanex in a report on Monday, December 29th. Royal Bank Of Canada lifted their target price on shares of Methanex from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Canadian Imperial Bank of Commerce cut shares of Methanex from an “outperform” rating to a “neutral” rating and upped their target price for the company from $46.00 to $52.00 in a research note on Friday. Finally, Zacks Research raised shares of Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Methanex has an average rating of “Moderate Buy” and a consensus price target of $48.25.

Methanex Stock Up 0.4%

Shares of MEOH opened at $47.23 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09. The company has a 50-day simple moving average of $43.08 and a 200-day simple moving average of $38.56. Methanex has a 52 week low of $25.46 and a 52 week high of $51.94. The firm has a market capitalization of $3.65 billion, a P/E ratio of 16.01 and a beta of 0.68.

Hedge Funds Weigh In On Methanex

Several institutional investors have recently bought and sold shares of MEOH. Intact Investment Management Inc. boosted its stake in Methanex by 17.2% in the fourth quarter. Intact Investment Management Inc. now owns 677,610 shares of the specialty chemicals company’s stock worth $26,875,000 after purchasing an additional 99,210 shares in the last quarter. AMG National Trust Bank bought a new position in shares of Methanex in the fourth quarter valued at about $308,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Methanex by 44.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,800 shares of the specialty chemicals company’s stock worth $306,000 after buying an additional 2,400 shares in the last quarter. Exencial Wealth Advisors LLC grew its holdings in Methanex by 5.8% during the 4th quarter. Exencial Wealth Advisors LLC now owns 45,669 shares of the specialty chemicals company’s stock worth $1,814,000 after acquiring an additional 2,515 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Methanex by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 2,746,051 shares of the specialty chemicals company’s stock worth $108,917,000 after acquiring an additional 336,316 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).