Streetbeat News

MEOH

Methanex Corporation

https://www.methanex.com

Industry

Chemicals

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels. It serves chemical and petrochemical producers. Methanex Corporation was incorporated in 1968 and is headquartered in Vancouver, Canada.

Open

42.99

Mkt cap

2.9B

Volume

307K

High

43.00

P/E Ratio

20.11

52-wk high

56.43

Low

42.23

Div yield

0.02

52-wk low

36.13

Barclays analyst Michael Leithead has downgraded Methanex (NASDAQ:MEOH) from Overweight to Equal-Weight and reduced the price target from $56 to $44.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 12:38 pm

US stocks rose with the Dow Jones gaining over 200 points. Methanex Corporation announced a $2.05 billion acquisition of OCI Global's methanol business. Sintx Technologies, Intelligent Bio Solutions, and Relay Therapeutics saw significant stock price increases, while Edgio, Pineapple Energy, and Wheeler Real Estate Investment Trust experienced declines.

Portfolio Pulse from Avi Kapoor

September 09, 2024 | 1:54 pm

Several major stocks, including Methanex, Merck, and others, are experiencing declines in Monday's pre-market session. Methanex's shares fell 6.3% after announcing a $2.05 billion acquisition of OCI Global's methanol business. Merck's shares dropped 4.8% following clinical trial results.

Portfolio Pulse from Avi Kapoor

September 09, 2024 | 12:11 pm

Methanex shares declined following the announcement of its $2.05 billion acquisition of OCI Global's international methanol business.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 11:33 am

Methanex Corporation (NASDAQ:MEOH) is set to acquire OCI Global's international methanol business for $2.05 billion, enhancing its global production by over 20%. The acquisition is expected to be immediately accretive to free cash flow per share and add $275 million to annual Adjusted EBITDA. The deal is anticipated to close in the first half of 2025, pending regulatory approvals.

Portfolio Pulse from Lekha Gupta

September 09, 2024 | 11:09 am

Methanex is set to acquire OCI Global's methanol business for $2.05 billion, enhancing its North American operations. The acquisition aligns with Methanex's strategic goals and is expected to boost free cash flow per share immediately. OCI will retain a 13% ownership stake post-acquisition.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 6:53 am

RBC Capital analyst Nelson Ng has reiterated a Sector Perform rating on Methanex (NASDAQ:MEOH) and maintained a price target of $55.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 1:10 pm

UBS analyst Joshua Spector maintains a Buy rating on Methanex (NASDAQ:MEOH) but lowers the price target from $62 to $58.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:57 pm

Methanex has temporarily idled its manufacturing operations in New Zealand until the end of October 2024. The company has entered into short-term commercial arrangements to supply its contracted natural gas to the New Zealand electricity market, which is expected to positively impact its Q3 and Q4 2024 earnings.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 9:37 pm

RBC Capital analyst Nelson Ng has reiterated a Sector Perform rating on Methanex (NASDAQ:MEOH) and maintained a $55 price target.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 2:20 pm

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