13:12:14 EDT Sun 05 Apr 2020
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or Name

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Methanex Corp
Symbol MX
Shares Issued 76,196,080
Close 2019-09-17 C$ 50.40
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Globe says Alexander maintains Methanex at "hold"

2019-09-18 09:02 ET - In the News

The Globe and Mail reports in its Wednesday edition that Jefferies analyst Laurance Alexander says the rally in oil prices sets a floor for methanol pricing, leading him to hike his share target for Methanex to $38 from $34 (all figures U.S.). The Globe's David Leeder writes that Mr. Alexander says the move reflected soft demand trends, slightly better price prospects in the fourth quarter and 2020 and an 8-per-cent increase in production volumes next year. He raised his 2019 and 2020 earnings per share estimates to $1.40 and $3.20, from $1.05 and $2.40. Mr. Alexander says in a note, "Favorable operating leverage to higher oil prices, however, will likely not prevent FCF from turning negative during the upcoming investment cycle." Mr. Alexander continues to rate the shares "hold." The Globe reported on June 14 that Citi analyst Eric Petrie rated Methanex "neutral." The shares were then worth $45.23. The Globe reported on July 12 that CIBC analyst Jacob Bout cut his rating on Methanex to "neutral" from "outperformer." The shares were then worth $42.04. The Globe reported on Aug. 6 that RBC Dominion Securities analyst Nelson Ng said he expected more near-term "pain" at Methanex. The shares were then worth $33.14.

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