MED reaffirmed their buy rating on shares of Methanex (NASDAQ:MEOH) (TSE:MX) in a report issued on Thursday morning. The brokerage currently has a $80.00 target price on the specialty chemicals company’s stock.

“We rate Methanex shares Overweight, with a 12-month target price of USD80 per share.”,” the firm’s analyst commented.

Several other brokerages have also recently weighed in on MEOH. ValuEngine raised shares of Methanex from a hold rating to a buy rating in a research report on Saturday, October 6th. Barclays assumed coverage on shares of Methanex in a research report on Monday, October 8th. They issued an equal weight rating and a $90.00 price target for the company. Royal Bank of Canada upped their price target on shares of Methanex from $78.00 to $83.00 and gave the stock a sector perform rating in a research report on Monday, October 1st. BidaskClub raised shares of Methanex from a buy rating to a strong-buy rating in a research report on Friday, September 28th. Finally, Monness Crespi & Hardt upped their price target on shares of Methanex from $75.00 to $86.00 and gave the stock a buy rating in a research report on Tuesday, September 25th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $83.15.

Shares of MEOH traded up $2.20 during mid-day trading on Thursday, hitting $65.89. The company’s stock had a trading volume of 1,015,630 shares, compared to its average volume of 517,205. Methanex has a 52-week low of $48.55 and a 52-week high of $83.23. The stock has a market capitalization of $5.17 billion, a PE ratio of 13.99, a PEG ratio of 0.60 and a beta of 1.56. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.70.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.07). Methanex had a return on equity of 34.25% and a net margin of 12.48%. The business had revenue of $1.04 billion during the quarter. Equities research analysts forecast that Methanex will post 7.34 EPS for the current year.

A number of large investors have recently bought and sold shares of MEOH. Canada Pension Plan Investment Board lifted its position in Methanex by 60.1% during the second quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock valued at $42,525,000 after acquiring an additional 226,000 shares during the last quarter. Janus Henderson Group PLC lifted its position in Methanex by 173.8% during the second quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock valued at $24,753,000 after acquiring an additional 222,338 shares during the last quarter. Addenda Capital Inc. lifted its position in Methanex by 78.0% during the second quarter. Addenda Capital Inc. now owns 477,338 shares of the specialty chemicals company’s stock valued at $31,014,000 after acquiring an additional 209,236 shares during the last quarter. Strs Ohio purchased a new stake in Methanex during the second quarter valued at approximately $13,345,000. Finally, TD Asset Management Inc. lifted its position in Methanex by 25.1% during the second quarter. TD Asset Management Inc. now owns 737,671 shares of the specialty chemicals company’s stock valued at $52,128,000 after acquiring an additional 147,874 shares during the last quarter. 76.05% of the stock is owned by institutional investors.

Methanex Company Profile

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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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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