What’s Ahead for Methanex Corporation After Reaching 52-Week High?

 What's Ahead for Methanex Corporation After Reaching 52 Week High?

The stock of Methanex Corporation (TSE:MX) hit a new 52-week high and has $56.60 target or 5.00% above today’s $53.90 share price. The 9 months bullish chart indicates low risk for the $4.90B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $56.60 price target is reached, the company will be worth $245.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 24,234 shares traded hands. Methanex Corporation (TSE:MX) has risen 22.80% since April 25, 2016 and is uptrending. It has outperformed by 17.54% the S&P500.

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. $65 is the highest target while $35 is the lowest. The $41.17 average target is -23.62% below today’s ($53.9) stock price. Methanex Corporation has been the topic of 9 analyst reports since January 22, 2016 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, January 22 report. The firm earned “Sector Perform” rating on Thursday, October 27 by RBC Capital Markets. The stock of Methanex Corporation (TSE:MX) has “Hold” rating given on Friday, October 28 by TD Securities. The firm has “Outperform” rating given on Tuesday, August 30 by Scotia Capital. The stock of Methanex Corporation (TSE:MX) earned “Sector Perform” rating by RBC Capital Markets on Monday, June 6.

Another recent and important Methanex Corporation (TSE:MX) news was published by Moodys.com which published an article titled: “Moody’s changes Methanex’s rating outlook to negative” on February 04, 2016.

Methanex Corporation is a producer and supplier of methanol to a range of international markets. The company has a market cap of $4.90 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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