Methanex Co. (MX) Downgraded by Raymond James Financial, Inc.

Raymond James Financial, Inc. downgraded shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) from an outperform rating to a market perform rating in a research note released on Tuesday, StockTargetPrices.com reports. They currently have C$77.00 price target on the stock.

A number of other brokerages also recently issued reports on MX. Scotiabank reissued a sector perform rating and issued a C$68.00 price target on shares of Methanex in a report on Thursday, October 26th. Royal Bank Of Canada increased their price target on shares of Methanex to C$73.00 and gave the stock a sector perform rating in a report on Friday, October 27th. BMO Capital Markets reaffirmed an outperform rating and issued a C$57.00 target price on shares of Methanex in a research note on Monday, September 18th. Finally, TD Securities raised their target price on shares of Methanex to C$75.50 and gave the company a buy rating in a research note on Friday, October 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of C$70.10.

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In other Methanex news, insider David Valembois sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of C$51.90, for a total transaction of C$103,800.00. Also, insider Simon Christopher Maddren sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of C$56.15, for a total transaction of C$280,750.00. Insiders sold 9,350 shares of company stock worth $507,144 over the last ninety days.

Methanex Company Profile

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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