Methanex Co. (MX) Stock Rating Reaffirmed by Scotiabank

Scotiabank restated their sector perform rating on shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) in a report published on Wednesday, October 18th, reports. The firm currently has a C$67.00 price objective on the stock.

Separately, BMO Capital Markets reiterated an outperform rating and set a C$57.00 price target on shares of Methanex in a report on Monday, September 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average price target of C$64.30.

Shares of Methanex (TSE MX) traded down 1.19% on Wednesday, hitting $64.01. 464,151 shares of the company were exchanged. The firm’s 50-day moving average is $63.14 and its 200-day moving average is $59.22. Methanex has a 52-week low of $46.21 and a 52-week high of $69.88. The stock has a market capitalization of $5.51 billion and a PE ratio of 24.91.

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In other Methanex news, insider Simon Christopher Maddren sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of C$56.15, for a total transaction of C$280,750.00. Also, insider David Valembois sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$51.90, for a total transaction of C$103,800.00. Over the last three months, insiders have sold 7,400 shares of company stock worth $402,855.

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.

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