Methanex (NASDAQ:MEOH) Stock Rating Upgraded by StockNews.com

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

MEOH has been the topic of a number of other reports. Barclays cut shares of Methanex from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $56.00 to $44.00 in a research note on Tuesday, September 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 target price on shares of Methanex in a report on Tuesday, September 3rd. Piper Sandler lifted their target price on Methanex from $51.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. UBS Group lowered their target price on Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Raymond James lowered their target price on Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a report on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $55.25.

Methanex Stock Performance

MEOH stock traded up $0.35 during mid-day trading on Friday, reaching $42.19. The company had a trading volume of 706,401 shares, compared to its average volume of 251,176. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $2.84 billion, a P/E ratio of 19.72 and a beta of 1.36. Methanex has a one year low of $36.13 and a one year high of $56.43. The stock's 50-day simple moving average is $40.99 and its two-hundred day simple moving average is $45.99.

Hedge Funds Weigh In On Methanex

Several institutional investors and hedge funds have recently bought and sold shares of MEOH. BNP Paribas Financial Markets purchased a new position in Methanex during the 1st quarter valued at about $494,000. Duality Advisers LP purchased a new position in Methanex during the 1st quarter valued at about $779,000. Swiss National Bank grew its stake in Methanex by 0.6% during the 1st quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company's stock valued at $5,681,000 after acquiring an additional 700 shares in the last quarter. Headlands Technologies LLC grew its stake in Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company's stock valued at $40,000 after acquiring an additional 700 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Methanex by 5.3% during the 1st quarter. Russell Investments Group Ltd. now owns 108,995 shares of the specialty chemicals company's stock valued at $4,863,000 after acquiring an additional 5,438 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

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.

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