Methanex (TSE:MX) Cut to Hold at Scotiabank

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

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

Methanex Stock Down 12.5 %

Shares of MX stock opened at C$53.13 on Monday. The company has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 0.44 and a beta of 1.79. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The stock’s 50 day simple moving average is C$68.52 and its 200 day simple moving average is C$63.08. Methanex has a twelve month low of C$49.21 and a twelve month high of C$78.18.

Insider Buying and Selling

In related news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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.