Royal Bank Of Canada upgraded shares of Methanex (TSE:MX - Free Report) NASDAQ: MEOH from a hold rating to a moderate buy rating in a research report sent to investors on Friday morning,Zacks.com reports.
Other analysts have also recently issued reports about the company. Scotiabank set a C$53.00 price objective on Methanex and gave the company an "outperform" rating in a research report on Friday, June 13th. Raymond James Financial set a C$40.00 target price on shares of Methanex and gave the company an "outperform" rating in a report on Friday, June 13th. One analyst has rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Methanex presently has a consensus rating of "Buy" and a consensus price target of C$46.50.
Check Out Our Latest Analysis on MX
Methanex Price Performance
Shares of Methanex stock traded down C$0.33 on Friday, reaching C$45.98. The stock had a trading volume of 176,547 shares, compared to its average volume of 206,217. The business's 50 day moving average is C$46.63 and its two-hundred day moving average is C$51.45. The company has a market cap of C$2.19 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. Methanex has a 1 year low of C$36.10 and a 1 year 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.
Methanex Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.6%. Methanex's dividend payout ratio (DPR) is 31.43%.
Insider Activity at Methanex
In related news, Director Rich Sumner acquired 1,479 shares of the firm's stock in a transaction on Friday, June 20th. The stock was bought at an average price of C$50.65 per share, for a total transaction of C$74,907.36. Corporate insiders own 0.35% of the company's stock.
Methanex Company Profile
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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.
Further Reading

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