Methanex (MX) Price Target Cut to C$41.89

Methanex (TSE:MX) (NASDAQ:MEOH) had its price objective dropped by equities researchers at Sanford C. Bernstein from C$46.43 to C$41.89 in a research report issued on Monday. Sanford C. Bernstein’s price objective points to a potential downside of 45.23% from the company’s current price.

Other equities research analysts have also issued reports about the company. TD Securities upped their price target on Methanex to C$75.50 and gave the stock a “buy” rating in a research note on Friday, October 27th. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price target for the company. in a research note on Tuesday, October 31st. Royal Bank of Canada upped their price target on Methanex to C$73.00 and gave the stock a “sector perform” rating in a research note on Friday, October 27th. Finally, Scotiabank restated a “sector perform” rating and set a C$68.00 price target on shares of Methanex in a research note on Thursday, October 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Methanex currently has an average rating of “Hold” and a consensus target price of C$66.98.

Shares of Methanex (TSE:MX) traded up C$0.81 during trading hours on Monday, reaching C$76.49. The company’s stock had a trading volume of 143,016 shares, compared to its average volume of 303,683. The firm has a market capitalization of $6,340.00, a price-to-earnings ratio of 20.09 and a beta of 1.43. Methanex has a 12 month low of C$52.63 and a 12 month high of C$80.61.

In other news, Director John Floren sold 20,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of C$72.85, for a total value of C$1,457,000.00. Also, Director Mike Herz sold 6,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of C$65.50, for a total value of C$393,000.00. In the last quarter, insiders sold 29,100 shares of company stock valued at $2,009,615.

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About Methanex

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.

Analyst Recommendations for Methanex (TSE:MX)

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