Methanex Co. (MX) Receives Outperform Rating from BMO Capital Markets
Methanex Co. (TSE:MX) (NASDAQ:MEOH)‘s stock had its “outperform” rating restated by BMO Capital Markets in a research note issued to investors on Monday, StockTargetPrices.com reports. They presently have a C$57.00 price objective on the stock. BMO Capital Markets’ price target points to a potential downside of 7.42% from the stock’s previous close.
Separately, Scotiabank reissued a “sector perform” rating and set a C$69.00 price objective 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 assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of C$59.50.
Shares of Methanex (TSE:MX) traded up 4.55% during trading on Monday, reaching $64.37. The company had a trading volume of 497,696 shares. The firm has a market capitalization of $5.54 billion and a PE ratio of 25.05. Methanex has a 12 month low of $38.09 and a 12 month high of $69.88. The stock has a 50 day moving average price of $58.59 and a 200 day moving average price of $59.22.
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In other Methanex news, insider David Valembois sold 2,000 shares of the business’s 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. Also, insider Simon Christopher Maddren sold 5,000 shares of the business’s 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. In the last ninety days, insiders 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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