Methanex (MX) Sets New 1-Year High at $101.52
Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$101.52 and last traded at C$99.14, with a volume of 179366 shares changing hands. The stock had previously closed at C$95.52.
A number of analysts have recently weighed in on MX shares. BMO Capital Markets reaffirmed an “outperform” rating and set a C$80.00 price target on shares of Methanex in a report on Wednesday, May 23rd. Sanford C. Bernstein upped their price target on shares of Methanex from C$43.68 to C$44.64 and gave the stock a “c$91.36” rating in a report on Monday, July 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Methanex presently has a consensus rating of “Hold” and a consensus target price of C$71.24.
Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings results on Wednesday, July 25th. The company reported C$2.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$2.19 by C$0.07. Methanex had a net margin of 9.86% and a return on equity of 18.05%. The company had revenue of C$1.23 billion during the quarter.
In related news, Director Nojan Abrary sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of C$97.13, for a total transaction of C$1,068,430.00. Also, Director John Floren sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of C$97.00, for a total transaction of C$970,000.00. In the last ninety days, insiders have sold 32,135 shares of company stock valued at $2,894,938.
Methanex Company Profile (TSE:MX)
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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