Methanex Corporation (MX:CA), a significant player in the global methanol market, is drawing investor attention as it nears its earnings report on January 29, 2025. With fresh insights from analysts and Stock Target Advisor’s latest assessment, investors are keen on evaluating its future trajectory.
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Recent Performance and Market Conditions:
Methanex’s stock has demonstrated notable growth over the past year, with its price increasing by 18.79%. The company’s stock recently closed at CAD 72.39, reflecting strong investor confidence.
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Over the past week, the stock has seen a +0.34% change, while its monthly growth stands at +1.72%. The one-year total return, including dividends, is 20.13%, positioning the company favorably within its sector.
Stock Target Advisor’s Analysis on Methanex Corporation:
Stock Target Advisor has assigned a Slightly Bearish rating to Methanex, based on a combination of 3 positive signals and 4 negative signals.
Recent analyst ratings for Methanex indicate a mixed outlook, though most analysts maintain a positive stance:
- Jefferies & Company: Buy | Target Price: CAD 68
- BMO Capital Markets: Buy | Target Price: CAD 60
- UBS: Buy | Target Price: CAD 54
The average analyst target price for Methanex over the next 12 months is CAD 64.36, suggesting a potential downside from its current trading price.
Conclusion:
With its earnings report due on January 29, 2025, Methanex Corporation remains an important stock to monitor. While analysts are largely bullish, Stock Target Advisor’s slightly bearish stance suggests caution. As the global push for cleaner energy alternatives continues, Methanex’s role in the methanol industry positions it for long-term strategic growth.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
