Methanex (MX) Hits New 52-Week High at $86.92

Methanex (TSE:MX) (NASDAQ:MEOH) shares reached a new 52-week high on Tuesday . The company traded as high as C$86.92 and last traded at C$86.15, with a volume of 151222 shares trading hands. The stock had previously closed at C$85.01.

MX has been the topic of a number of research reports. Sanford C. Bernstein reduced their price target on shares of Methanex from C$43.86 to C$42.76 in a report on Thursday, April 12th. BMO Capital Markets reiterated an “outperform” rating and issued a C$72.00 price target on shares of Methanex in a report on Monday, April 9th. Finally, TD Securities lifted their price target on shares of Methanex to C$85.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of C$69.63.

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Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings results on Wednesday, January 31st. The company reported C$2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.48 by C$0.68. The company had revenue of C$1.09 billion for the quarter. Methanex had a net margin of 9.86% and a return on equity of 18.05%.

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 31st. Stockholders of record on Saturday, March 17th were issued a $0.406 dividend. The ex-dividend date was Thursday, March 15th. This is an increase from Methanex’s previous quarterly dividend of $0.30. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.89%.

In other news, Director Vanessa James sold 7,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$75.01, for a total value of C$525,070.00. Also, Director Wade Wiggins sold 8,100 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of C$56.35, for a total transaction of C$456,435.00.

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About Methanex

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

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