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Methanex Corp (MX-T)
TSE:MX
65.96
0.68
(1.04%) 1d
Financials
Technical Analysis
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Methanex Corp (MX-T) is recognized as the world's largest producer of methanol, which finds applications in gasoline blending and various industrial uses. The company's operations extend globally with a production capacity of 10 million tons. While it has demonstrated a solid recovery in stock performance, reaching upticks of 6.7% and 10.9% from April 2023, analysts caution about its cyclical nature, heavily influenced by demand from markets like China. Although projected earnings for 2024 suggest a rebound to approximately $6.50 per share, the volatility present in commodities complicates long-term investment perspectives. Furthermore, the company's dividend, while offering a low yield of about 1.5%, may pose risks associated with its cyclical business model, leading some analysts to recommend strategic trading rather than long-term holding.
$65.680
Unknown
Our PAST TOP PICK with MX has triggered its stop at $64. To remain disciplined, we recommend covering the position at this time. Combined with our previous recommendations, this will result in a net investment gain of 3%.
World's largest producer of Methanol (used in Gasoline blending/industrial applications). Canadian company with capacity to produce 10 million tones across the globe. Cyclical commodity that varies with China demand. Earnings $7/shrae in 2018, lost $1.62 in 2020, will earn ~$6.50/share in 2024. Would be a good trade, or something to buy on the dip. Hard to predict outlook of the business. ~1.5% dividend rate, which isn't high - can also be a risky dividend with cyclical business. Would not recommend investing for the long term.
He took profits when it started to rally. A solid company though and will do well in the second half of 2023. Weak natural gas prices benefit Methanex by lowering their costs. China's recovery Will benefit commodity stocks like this, but it will take time.
Does not own shares.
Proxy to economic growth across economy.
Basic component in large variety of retail products.
China growth in China slowing.
We reiterate MX, the largest supplier of methanol to international markets, as a TOP PICK. The company just released earnings, beating analyst expectations by 20%. Production in the quarter was slowed due to extended turnaround times in several key regions, but this should be resolved shortly. It trades at 13x earnings and 1.5x book value. It has used some cash reserves to prudently retire debt and buy back shares. We recommend maintaining a stop-loss at $51, looking to achieve $78 — upside potential over 30%. Yield 1.0%
(Analysts’ price target is $78.17)As the largest supplier of methanol to international markets, we select MX as a TOP PICK. The company just announced the first bio-methanol marine vessel voyage that opens the door to low-emission marine transport. It trades at 9x earnings and 1.5x book value. It has been some cash reserves to prudently retire debt and buy back shares. We recommend placing a stop-loss at $51, looking to achieve $78 — upside potential over 21%. Yield 1.0%
(Analysts’ price target is $78.69)Likes it. He just took profits. Natural gas is driving shares, and nat gas prices are down now, so MX shares are up. It's a solid performer, but if a recession happens, say 6 months down the road, this will be a headwind.
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research.
Earnings per share were 73c, beating estimates of 37c by a wide margin.
Sales of $986M beat estimates by 4%.
Earnings did fall year over year as prices fell about 16%, even as production increased.
The company continues to buy back its own stock.
The new incoming CEO sounded confident for 2023 and about 30% earnings growth is expected this year.
The market has responded well to these better-than-expected results. Unlock Premium - Try 5i Free
Methanex Corp(MX-T) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 2
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 1
Total Signals / Votes : 3
Methanex Corp(MX-T) Frequently Asked Questions
What is Methanex Corp stock symbol?
Methanex Corp is a Canadian stock, trading under the symbol MX-T on the Toronto Stock Exchange (MX-CT). It is usually referred to as TSX:MX or MX-T
Is Methanex Corp a buy or a sell?
In the last year, 3 stock analysts published opinions about MX-T. 2 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Methanex Corp.
Is Methanex Corp a good investment or a top pick?
Methanex Corp was recommended as a Top Pick by on . Read the latest stock experts ratings for Methanex Corp.
Why is Methanex Corp stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Methanex Corp worth watching?
3 stock analysts on Stockchase covered Methanex Corp In the last year. It is a trending stock that is worth watching.
What is Methanex Corp stock price?
On 2025-02-18, Methanex Corp (MX-T) stock closed at a price of $65.96.
Well run. Fundamentals look good. Believes nat gas prices will firm up, which won't be detrimental to MX. If you think positive economic backdrop in 2025, this one should pick up. Cyclical. Stock recovery should continue in 2025. He trades in and out.