Methanex (TSE:MX) Lowered to “Hold” Rating by Scotiabank

Methanex (TSE:MX) (NASDAQ:MEOH) was downgraded by investment analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Methanex has an average rating of “Buy”.

Methanex Stock Down 0.9 %

MX stock opened at C$52.64 on Monday. The stock has a market cap of C$2.51 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The company’s 50 day moving average is C$68.13 and its 200 day moving average is C$63.02. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53. Methanex has a 1-year low of C$49.21 and a 1-year high of C$78.18.

Insiders Place Their Bets

In other news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$65.39, for a total transaction of C$504,818.52. 0.35% of the stock is owned by insiders.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.