Methanex (NASDAQ:MEOH) Upgraded by Cibc World Mkts to "Strong-Buy" Rating

Cibc World Mkts upgraded shares of Methanex (NASDAQ:MEOH - Free Report) TSE: MX from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on MEOH. StockNews.com upgraded shares of Methanex from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Raymond James cut their target price on Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 target price on shares of Methanex in a research report on Tuesday, September 3rd. Barclays lifted their price target on Methanex from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Finally, UBS Group reduced their price objective on Methanex from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Methanex has an average rating of "Moderate Buy" and a consensus target price of $57.25.

Methanex Stock Down 2.1 %

Shares of NASDAQ MEOH traded down $0.97 during midday trading on Tuesday, hitting $46.12. 116,717 shares of the company's stock were exchanged, compared to its average volume of 299,878. The company has a market cap of $3.11 billion, a PE ratio of 22.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43. The firm's fifty day simple moving average is $43.21 and its 200-day simple moving average is $45.16.

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.185 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.60%. Methanex's dividend payout ratio (DPR) is currently 34.58%.

Hedge Funds Weigh In On Methanex

Several institutional investors have recently bought and sold shares of MEOH. Wilmington Savings Fund Society FSB acquired a new stake in shares of Methanex in the 3rd quarter worth $40,000. Blue Trust Inc. increased its stake in shares of Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company's stock worth $70,000 after acquiring an additional 1,575 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock worth $93,000 after purchasing an additional 1,626 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Methanex in the second quarter valued at about $201,000. Finally, Value Partners Investments Inc. boosted its holdings in Methanex by 10.4% in the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company's stock valued at $233,000 after purchasing an additional 532 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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.