Noteworthy Price Action: Is Buying Methanex Corporation (USA) Here a Winning Strategy?

Noteworthy Price Action: Is Buying Methanex Corporation (USA) Here a Winning Strategy?

The stock of Methanex Corporation (USA) (NASDAQ:MEOH) is a huge mover today! About 961,652 shares traded hands or 55.24% up from the average. Methanex Corporation (USA) (NASDAQ:MEOH) has risen 12.45% since April 27, 2016 and is uptrending. It has outperformed by 7.22% the S&P500.
The move comes after 9 months positive chart setup for the $3.94 billion company. It was reported on Nov, 30 by Barchart.com. We have $45.81 PT which if reached, will make NASDAQ:MEOH worth $157.60M more.

Analysts await Methanex Corporation (USA) (NASDAQ:MEOH) to report earnings on January, 25. They expect $-0.05 EPS, down 145.45% or $0.16 from last year’s $0.11 per share. After $-0.12 actual EPS reported by Methanex Corporation (USA) for the previous quarter, Wall Street now forecasts -58.33% EPS growth.

Methanex Corporation (USA) (NASDAQ:MEOH) Ratings Coverage

Out of 11 analysts covering Methanex Corporation (NASDAQ:MEOH), 6 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 55% are positive. Methanex Corporation has been the topic of 34 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The stock of Methanex Corporation (USA) (NASDAQ:MEOH) has “Buy” rating given on Friday, July 31 by TD Securities. On Monday, March 14 the stock rating was downgraded by Citigroup to “Hold”. Raymond James downgraded the shares of MEOH in a report on Monday, December 14 to “Mkt Perform” rating. The firm earned “Sector Perform” rating on Friday, January 29 by RBC Capital Markets. Raymond James downgraded it to “Outperform” rating and $55 target price in Wednesday, August 19 report. The stock has “Outperform” rating given by Raymond James on Wednesday, March 2. The firm has “Buy” rating by Jefferies given on Wednesday, August 5. The stock of Methanex Corporation (USA) (NASDAQ:MEOH) has “Buy” rating given on Friday, July 29 by TD Securities. The stock has “Strong Buy” rating given by Raymond James on Tuesday, May 17. Cowen & Co maintained Methanex Corporation (USA) (NASDAQ:MEOH) on Tuesday, November 24 with “Buy” rating.

According to Zacks Investment Research, “Methanex Corp. is a Vancouver based company engaged in the worldwide production and marketing of methanol. Methanol, made from natural gas, is a basic chemical building block used to manufacture products such as formaldehyde, MTBE, acetic acid and others. The Company operates production facilities in Canada, the United States, New Zealand and Chile. The Company also markets additional methanol from plants in the US, Trinidad and Europe.”

Another recent and important Methanex Corporation (USA) (NASDAQ:MEOH) news was published by Fool.ca which published an article titled: “Methanex Corporation Is Down 30% in 30 Days: Is This the Bottom?” on February 02, 2016.

MEOH 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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