Methanex (MX) Sets New 12-Month High at $75.61

Methanex Co. (TSE:MX) (NASDAQ:MEOH) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$75.61 and last traded at C$74.01, with a volume of 635987 shares. The stock had previously closed at C$73.17.

MX has been the subject of several research analyst reports. TD Securities increased their price objective on Methanex to C$75.50 and gave the stock a “buy” rating in a research report on Friday, October 27th. Raymond James Financial cut Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price objective for the company. in a research report on Tuesday, October 31st. BMO Capital Markets reiterated an “outperform” rating and issued a C$57.00 price objective on shares of Methanex in a research report on Monday, September 18th. Royal Bank of Canada increased their price objective on Methanex to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday, October 27th. Finally, Scotiabank reiterated a “sector perform” rating and issued a C$68.00 price objective on shares of Methanex in a research report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Methanex presently has a consensus rating of “Hold” and a consensus price target of C$70.10.

In other news, Director John Floren sold 450 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of C$65.32, for a total value of C$29,394.00. Also, Director Mike Herz sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of C$65.50, for a total value of C$393,000.00. In the last 90 days, insiders sold 29,550 shares of company stock valued at $2,039,009.

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Methanex Company Profile

Methanex Corp is a Canada-based 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, as well as 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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