Price Action to Note: Methanex Corporation (USA) Stock Is An 52-Week High Flier

Price Action to Note: Methanex Corporation (USA) Stock Is An 52 Week High Flier

The stock of Methanex Corporation (USA) (NASDAQ:MEOH) hit a new 52-week high and has $47.38 target or 9.00% above today’s $43.47 share price. The 6 months bullish chart indicates low risk for the $3.89 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $47.38 price target is reached, the company will be worth $350.10 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 346,454 shares traded hands. 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.

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. $60 is the highest target while $27 is the lowest. The $39.20 average target is -9.82% below today’s ($43.47) stock price. Methanex Corporation has been the topic of 34 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Jefferies maintained Methanex Corporation (USA) (NASDAQ:MEOH) rating on Wednesday, August 5. Jefferies has “Buy” rating and $52 price target. The rating was downgraded by IBC to “Sector Perform” on Monday, October 24. As per Friday, August 7, the company rating was maintained by Jefferies. Raymond James upgraded the shares of MEOH in a report on Tuesday, May 17 to “Strong Buy” rating. Raymond James downgraded the shares of MEOH in a report on Monday, December 14 to “Mkt Perform” rating. The stock has “Buy” rating given by TD Securities on Friday, July 29. The company was maintained on Wednesday, September 9 by Cowen & Co. As per Tuesday, January 19, the company rating was downgraded by Monness Crespi & Hardt. The stock of Methanex Corporation (USA) (NASDAQ:MEOH) has “Buy” rating given on Tuesday, November 24 by Cowen & Co. RBC Capital Markets maintained Methanex Corporation (USA) (NASDAQ:MEOH) rating on Friday, July 31. RBC Capital Markets has “Sector Perform” rating and $56 price target.

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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