Methanex (TSE:MX) Cut to “Hold” at Scotiabank

Scotiabank lowered shares of Methanex (TSE:MX) (NASDAQ:MEOH) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Separately, Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Methanex Trading Up 0.2 %

MX stock opened at C$52.74 on Monday. Methanex has a 1-year low of C$49.21 and a 1-year high of C$78.18. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59. The company has a market capitalization of C$2.51 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.44 and a beta of 1.79. The business has a 50 day simple moving average of C$67.75 and a two-hundred day simple moving average of C$62.96.

Insiders Place Their Bets

In other news, Senior Officer Kevin Maloney acquired 1,400 shares of Methanex stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of C$53.55 per share, for a total transaction of C$74,969.02. Also, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of C$65.39, for a total value of C$504,818.52. Insiders own 0.35% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. 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.