Methanex (NASDAQ:MEOH) Upgraded at StockNews.com

Methanex (NASDAQ:MEOH) (TSE:MX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other research firms also recently weighed in on MEOH. UBS Group decreased their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Tuesday, September 3rd. Piper Sandler raised their price target on Methanex from $51.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Raymond James lowered their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Finally, Barclays cut Methanex from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $56.00 to $44.00 in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

Methanex Stock Performance

Shares of NASDAQ:MEOH opened at $42.19 on Friday. The company’s 50 day moving average price is $40.99 and its two-hundred day moving average price is $45.99. Methanex has a 12-month low of $36.13 and a 12-month 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 firm has a market cap of $2.84 billion, a PE ratio of 19.72 and a beta of 1.36.

Institutional Trading of Methanex

Hedge funds have recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Methanex by 0.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,649 shares of the specialty chemicals company’s stock valued at $1,769,000 after acquiring an additional 229 shares during the last quarter. Truist Financial Corp grew its holdings in Methanex by 5.0% in the second quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 294 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Methanex by 3.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company’s stock valued at $622,000 after buying an additional 411 shares in the last quarter. Value Partners Investments Inc. increased its holdings in Methanex by 10.4% in the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock worth $233,000 after acquiring an additional 532 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Methanex by 0.6% during the first 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 in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Company Profile

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.