Methanex Corporation Increases Again; Strong Momentum for Buyers

 Methanex Corporation Increases Again; Strong Momentum for Buyers

The stock of Methanex Corporation (TSE:MX) is a huge mover today! About 84,754 shares traded hands. Methanex Corporation (TSE:MX) has risen 16.04% since March 29, 2016 and is uptrending. It has outperformed by 13.52% the S&P500.
The move comes after 9 months positive chart setup for the $4.49 billion company. It was reported on Nov, 2 by Barchart.com. We have $63.43 PT which if reached, will make TSE:MX worth $1.30 billion more.

Methanex Corporation (TSE:MX) Ratings Coverage

Out of 3 analysts covering Methanex Corporation (TSE:MX), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Methanex Corporation has been the topic of 9 analyst reports since January 22, 2016 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, January 22. RBC Capital Markets maintained it with “Sector Perform” rating and $48.50 target price in Monday, June 6 report. Scotia Capital maintained it with “Outperform” rating and $35 target price in Tuesday, August 30 report. The firm has “Sector Perform” rating given on Thursday, October 27 by RBC Capital Markets. The company was downgraded on Friday, October 28 by TD Securities.

More news for Methanex Corporation (TSE:MX) were recently published by: Moodys.com, which released: “Moody’s changes Methanex’s rating outlook to negative” on February 04, 2016. Fool.ca‘s article titled: “Methanex Corporation Is Down 30% in 30 Days: Is This the Bottom?” and published on February 02, 2016 is yet another important article.

Methanex Corporation is a producer and supplier of methanol to a range of international markets. The company has a market cap of $4.49 billion. The Firm operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. It currently has negative earnings. The Company’s global activities are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

MX.TO Company Profile

Methanex Corporation, incorporated on March 5, 1992, is a producer and supplier of methanol to a range of international markets in North America, Asia Pacific, Europe and South America. The Firm operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. The Company’s global activities are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers. The Company’s global supply chain and distribution network provides its clients with supply of methanol. The Company’s subsidiary, Waterfront Shipping Company Limited, operates its fleet, which is made up of approximately 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 clients in Asia Pacific. The Firm operates over two plants in Trinidad, Titan and Atlas, which supply methanol to markets in North America, Europe, Asia Pacific and South America.

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