Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $55.00 target price on the specialty chemicals company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 4.97% from the stock’s previous close.
Other research analysts have also issued research reports about the stock. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. CIBC reaffirmed an “outperformer” rating and set a $59.00 price target (up from $48.00) on shares of Methanex in a research report on Tuesday, December 10th. Scotiabank raised their price objective on Methanex from $60.00 to $66.00 and gave the company a “sector outperform” rating in a research report on Thursday. Finally, UBS Group decreased their target price on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.75.
Check Out Our Latest Stock Report on MEOH
Methanex Trading Up 1.2 %
Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) last announced its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 11.10% and a net margin of 4.41%. On average, research analysts anticipate that Methanex will post 4.02 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of MEOH. Entropy Technologies LP bought a new position in Methanex in the fourth quarter worth about $240,000. Westbourne Investment Advisors Inc. lifted its stake in Methanex by 6.7% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 117,981 shares of the specialty chemicals company’s stock valued at $5,892,000 after buying an additional 7,375 shares during the last quarter. Triasima Portfolio Management inc. acquired a new stake in shares of Methanex in the 4th quarter worth about $1,540,000. Ausbil Investment Management Ltd bought a new stake in shares of Methanex during the fourth quarter valued at approximately $386,000. Finally, Blue Trust Inc. grew its holdings in Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after buying an additional 371 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.
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.
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