Methanex Co. (NASDAQ:MEOH) Given Average Rating of “Moderate Buy” by Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $55.38.

A number of analysts have recently weighed in on the stock. Barclays lowered shares of Methanex from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $56.00 to $44.00 in a report on Tuesday, September 10th. Piper Sandler boosted their target price on Methanex from $51.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Scotiabank upped their target price on Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 10th. Raymond James cut their price target on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a report on Tuesday, September 3rd.

Institutional Investors Weigh In On Methanex

A number of hedge funds and other institutional investors have recently bought and sold shares of MEOH. BNP Paribas Financial Markets bought a new stake in shares of Methanex in the 1st quarter worth approximately $494,000. Duality Advisers LP purchased a new stake in shares of Methanex in the first quarter worth $779,000. M&G Plc bought a new position in shares of Methanex during the first quarter valued at $589,459,000. Swiss National Bank raised its position in shares of Methanex by 0.6% in the 1st quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company’s stock worth $5,681,000 after purchasing an additional 700 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in Methanex by 346.5% in the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Trading Down 1.0 %

NASDAQ:MEOH opened at $38.97 on Thursday. The firm has a market capitalization of $2.63 billion, a P/E ratio of 18.13 and a beta of 1.36. Methanex has a 52 week low of $36.13 and a 52 week high of $56.43. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average of $41.16 and a 200 day moving average of $46.06.

About Methanex

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.