Methanex Co. (TSE:MX) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH have been given an average rating of "Buy" by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$46.50.

MX has been the topic of several research analyst reports. Scotiabank set a C$53.00 target price on shares of Methanex and gave the stock an "outperform" rating in a report on Friday, June 13th. Raymond James Financial set a C$40.00 price objective on shares of Methanex and gave the company an "outperform" rating in a report on Friday, June 13th.

Methanex Trading Down 1.0%

MX stock traded down C$0.48 during midday trading on Tuesday, hitting C$45.99. 162,613 shares of the company's stock were exchanged, compared to its average volume of 208,196. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The company has a market cap of C$2.19 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The stock's fifty day moving average price is C$46.59 and its 200-day moving average price is C$54.65. Methanex has a one year low of C$36.10 and a one year high of C$78.18.

Insider Buying and Selling

In other Methanex news, Director Rich Sumner acquired 1,479 shares of the company's stock in a transaction on Friday, June 20th. The shares were purchased at an average cost of C$50.65 per share, with a total value of C$74,907.36. Insiders own 0.35% 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.