Raymond James downgraded Methanex (NASDAQ:MEOH) from Strong Buy to Outperform in a report released today.
- Updated: October 3, 2016
Yesterday Methanex (NASDAQ:MEOH) traded -2.80% lower at $35.68. The company’s 50-day moving average is $30.40 and its 200-day moving average is $30.98. The last closing price is up 11.95% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 245,472 shares of the stock were exchanged, down from an average trading volume of 831,973
Raymond James has downgraded Methanex (NASDAQ:MEOH) from Strong Buy to Outperform in a report released on 10/3/2016.
Previously on 08/04/2016, Cowen reported on Methanex (NASDAQ:MEOH) lowered the target price from $43.00 to $40.00. At the time, this indicated a possible upside of 0.44%.
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Methanex has a 52 week low of $22.73 and a 52 week high of $44.95 with a P/E ratio of 78.64 The company’s market cap is currently $0.
In addition to Raymond James reporting its target price, a total of 12 brokers have issued a report on the stock. The consensus target price is $40.29 with 1 broker rating the stock a strong buy, 5 brokers rating the stock a buy, 6 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Methanex (NASDAQ:MEOH)
Methanex Corporation is a 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, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers. The Company's subsidiary, Waterfront Shipping Company Limited, operates its fleet, which is made up of over 20 vessels ranging from 3,000 to 50,000 deadweight tons of capacity. It has over three production facilities in New Zealand that supply methanol primarily to customers in Asia Pacific. The Company operates over two plants in Trinidad, Titan and Atlas, which supply methanol to markets in North America, Europe, Asia Pacific and South America. Its joint venture facility in Egypt supplies methanol to markets in Europe and Asia Pacific. Its plant in Medicine Hat, Alberta, supplies methanol to customers in North America.
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