Shares of Methanex Corp. (NASDAQ:MEOH) gapped up before the market opened on Tuesday . The stock had previously closed at $27.57, but opened at $27.84. Methanex Corp. shares last traded at $29.01, with a volume of 269,252 shares traded.

MEOH has been the topic of a number of recent research reports. Citigroup Inc. lowered shares of Methanex Corp. from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $30.00 to $35.00 in a research report on Monday, March 14th. Jefferies Group restated a “buy” rating and set a $41.00 price target (up from $33.00) on shares of Methanex Corp. in a research report on Wednesday, March 23rd. Raymond James Financial Inc. upgraded shares of Methanex Corp. from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Zacks Investment Research upgraded shares of Methanex Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Finally, TD Securities lowered shares of Methanex Corp. from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research report on Thursday, March 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $43.85.

The stock has a market cap of $2.61 billion and a P/E ratio of 17.39. The firm’s 50-day moving average is $30.90 and its 200-day moving average is $30.81.

Methanex Corp. (NASDAQ:MEOH) last released its earnings results on Wednesday, April 27th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. Equities research analysts predict that Methanex Corp. will post ($0.01) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Tuesday, June 14th.

Several hedge funds have recently added to or reduced their stakes in MEOH. Dimensional Fund Advisors LP boosted its stake in Methanex Corp. by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 135,650 shares of the company’s stock valued at $4,478,000 after buying an additional 15,028 shares during the period. Bank of Montreal Can boosted its stake in Methanex Corp. by 1.7% in the fourth quarter. Bank of Montreal Can now owns 93,107 shares of the company’s stock valued at $3,075,000 after buying an additional 1,524 shares during the period. Todd Asset Management LLC boosted its stake in Methanex Corp. by 43.8% in the fourth quarter. Todd Asset Management LLC now owns 223,399 shares of the company’s stock valued at $7,375,000 after buying an additional 68,045 shares during the period. Boston Partners boosted its stake in Methanex Corp. by 96.0% in the fourth quarter. Boston Partners now owns 5,583,858 shares of the company’s stock valued at $184,323,000 after buying an additional 2,734,386 shares during the period. Finally, Gabelli Funds LLC boosted its stake in Methanex Corp. by 24.7% in the fourth quarter. Gabelli Funds LLC now owns 399,173 shares of the company’s stock valued at $13,177,000 after buying an additional 79,173 shares during the period.

Methanex Corporation is a 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, and 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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