Scotiabank Downgrades Methanex (TSE:MX) to Hold

Scotiabank cut shares of Methanex (TSE:MX) (NASDAQ:MEOH) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Separately, Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Methanex has a consensus rating of “Buy”.

Methanex Trading Up 0.2 %

TSE:MX opened at C$52.74 on Monday. The stock has a 50-day simple moving average of C$67.75 and a 200-day simple moving average of C$62.96. The stock has a market cap of C$2.51 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.44 and a beta of 1.79. Methanex has a 1 year low of C$49.21 and a 1 year high of C$78.18. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34.

Insiders Place Their Bets

In related news, Senior Officer Kevin Maloney purchased 1,400 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of C$53.55 per share, with a total value of C$74,969.02. Also, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of C$65.39, for a total value of C$504,818.52. 0.35% of the stock is owned by insiders.

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.