Methanex Co. (MX) Earns “Outperform” Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) in a research report sent to investors on Monday, reports. The brokerage currently has a C$57.00 price objective on the stock.

Separately, Scotiabank restated a sector perform rating and issued a C$69.00 price target on shares of Methanex in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of C$59.50.

Shares of Methanex (TSE MX) opened at 64.07 on Monday. Methanex has a 12-month low of $38.32 and a 12-month high of $69.88. The company has a market cap of $5.52 billion and a price-to-earnings ratio of 24.93. The stock has a 50 day moving average of $59.10 and a 200 day moving average of $59.04.

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The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Saturday, September 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from Methanex’s previous quarterly dividend of $0.28.

In other Methanex news, insider David Valembois sold 2,000 shares of Methanex stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of C$51.90, for a total value of C$103,800.00. Also, insider Simon Christopher Maddren sold 5,000 shares of Methanex stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of C$56.15, for a total value of C$280,750.00. Insiders sold 7,400 shares of company stock worth $402,855 in the last 90 days.

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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Analyst Recommendations for Methanex (TSE:MX)

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