Barclays Raises Methanex (NASDAQ:MEOH) Price Target to $46.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective hoisted by Barclays from $44.00 to $46.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price objective indicates a potential upside of 8.67% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target on shares of Methanex from $51.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research note on Tuesday, September 3rd. Raymond James lowered their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Finally, UBS Group dropped their target price on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Methanex has an average rating of “Moderate Buy” and a consensus target price of $55.50.

Methanex Price Performance

Shares of Methanex stock opened at $42.33 on Monday. The firm has a market capitalization of $2.85 billion, a PE ratio of 19.81 and a beta of 1.36. The company has a current ratio of 1.34, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The business’s 50-day moving average price is $40.90 and its 200-day moving average price is $45.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MEOH. M&G Plc purchased a new position in shares of Methanex during the first quarter valued at approximately $589,459,000. Vanguard Group Inc. increased its position in Methanex by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,487,117 shares of the specialty chemicals company’s stock valued at $111,000,000 after purchasing an additional 43,178 shares during the period. Dixon Mitchell Investment Counsel Inc. raised its holdings in Methanex by 9.9% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock worth $49,022,000 after purchasing an additional 106,848 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Methanex by 16.3% in the 2nd quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock worth $55,406,000 after purchasing an additional 159,542 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Methanex by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,262 shares of the specialty chemicals company’s stock valued at $45,570,000 after purchasing an additional 30,887 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

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.