Methanex (TSE:MX) Price Target Cut to C$52.00 by Analysts at Barclays

Methanex (TSE:MXGet Rating) (NASDAQ:MEOH) had its price objective cut by Barclays to C$52.00 in a research note released on Tuesday, Stock Target Advisor reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. Piper Sandler lowered shares of Methanex to a sell rating and set a C$48.00 target price for the company. in a research note on Tuesday, May 10th. Scotiabank downgraded shares of Methanex to a hold rating and set a C$50.00 price objective on the stock. in a report on Tuesday, May 31st. Alembic Global Advisors reissued a hold rating and issued a C$40.00 price target on shares of Methanex in a report on Monday, May 9th. UBS Group decreased their price objective on shares of Methanex to C$36.00 and set a sell rating on the stock in a research report on Wednesday, July 13th. Finally, BMO Capital Markets restated a buy rating and issued a C$65.00 price objective on shares of Methanex in a research report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of C$54.77.

Methanex Stock Performance

Shares of MX stock opened at C$46.43 on Tuesday. The firm has a market capitalization of C$3.26 billion and a PE ratio of 5.51. The firm has a fifty day simple moving average of C$54.01 and a two-hundred day simple moving average of C$60.74. The company has a current ratio of 2.28, a quick ratio of 1.71 and a debt-to-equity ratio of 126.35. Methanex has a 12 month low of C$37.85 and a 12 month high of C$71.63.

Methanex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.90 annualized dividend and a yield of 1.94%. This is a positive change from Methanex’s previous quarterly dividend of $0.16. Methanex’s dividend payout ratio (DPR) is currently 6.17%.

Insider Transactions at Methanex

In related news, Director Nojan Abrary acquired 1,301 shares of the stock in a transaction dated Monday, May 9th. The shares were purchased at an average cost of C$63.14 per share, with a total value of C$82,146.44. Following the transaction, the director now directly owns 16,966 shares in the company, valued at C$1,071,250.21. Insiders purchased a total of 1,601 shares of company stock valued at $99,848 in the last quarter.

About Methanex

(Get Rating)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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