Methanex Co. (TSE:MX) (NASDAQ:MEOH) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$77.00 and last traded at C$75.59, with a volume of 161769 shares. The stock had previously closed at C$75.13.

Several research analysts have recently issued reports on MX shares. BMO Capital Markets restated an “outperform” rating and issued a C$57.00 price target on shares of Methanex in a research report on Monday, September 18th. Scotiabank reiterated a “sector perform” rating and set a C$67.00 target price on shares of Methanex in a report on Wednesday, October 18th. Royal Bank of Canada lifted their target price on Methanex to C$73.00 and gave the stock a “sector perform” rating in a report on Friday, October 27th. TD Securities lifted their target price on Methanex to C$75.50 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 target price on the stock. in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Methanex presently has an average rating of “Hold” and a consensus price target of C$72.00.

The company has a market cap of $6,330.00, a price-to-earnings ratio of 19.55 and a beta of 1.43.

In other Methanex news, Director John Floren sold 20,000 shares of Methanex stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of C$72.85, for a total value of C$1,457,000.00. Also, Director Mike Herz sold 6,000 shares of Methanex stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of C$65.50, for a total value of C$393,000.00. Over the last quarter, insiders have sold 29,550 shares of company stock worth $2,039,009.

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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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