Methanex (TSE:MX) Given a C$53.00 Price Target by Scotiabank Analysts

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH has been assigned a C$53.00 price objective by equities researchers at Scotiabank in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 8.25% from the company's previous close.

Separately, Raymond James set a C$40.00 price target on Methanex and gave the company an "outperform" rating in a report on Friday. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$46.50.

Methanex Stock Performance

Methanex stock traded up C$2.07 during mid-day trading on Friday, hitting C$48.96. 422,493 shares of the company's stock traded hands, compared to its average volume of 197,475. The firm has a 50 day simple moving average of C$43.82 and a two-hundred day simple moving average of C$57.16. Methanex has a fifty-two week low of C$36.10 and a fifty-two week high of C$78.18. The stock has a market cap of C$2.33 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.44 and a beta of 1.79. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59.

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.