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

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH has been given a C$53.00 price target by research analysts at Scotiabank in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's price target suggests a potential upside of 9.62% 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 research note on Friday. One analyst has rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of C$46.50.

Methanex Stock Down 1.2%

TSE:MX traded down C$0.61 during midday trading on Friday, reaching C$48.35. The company had a trading volume of 300,021 shares, compared to its average volume of 198,367. Methanex has a 12-month low of C$36.10 and a 12-month high of C$78.18. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53. The firm has a market capitalization of C$2.30 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.44 and a beta of 1.79. The stock's fifty day simple moving average is C$44.05 and its 200-day simple moving average is C$56.93.

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.