Fri Sep 20 11:39:17 UTC 2024: ## Methanex Director Makes Significant Stock Purchase Amidst Analyst Uptick
**Vancouver, Canada – September 20, 2024** – Methanex Co. (TSE:MX, NASDAQ:MEOH), a leading methanol producer, saw a significant stock purchase by one of its directors, fueling further optimism surrounding the company.
Karine Delbarre, a director of Methanex, purchased 353 shares of the company’s stock on Tuesday, September 17th, at an average price of C$53.83 per share, totaling C$19,001.57. This purchase comes amidst a wave of positive analyst sentiment towards Methanex.
Piper Sandler recently upgraded Methanex from a “hold” to a “strong-buy” rating, while Tudor Pickering also raised their rating to “strong-buy”. This follows a recent report from Barclays, which downgraded Methanex to a “hold” from a “strong-buy”, potentially reflecting a more conservative outlook.
Methanex recently reported strong second-quarter earnings, exceeding analysts’ expectations with C$0.85 earnings per share, compared to the consensus estimate of C$0.66. The company’s revenue for the quarter reached C$1.26 billion. Analysts currently project Methanex to earn 5.6560088 earnings per share for the current fiscal year.
Methanex Corporation is a global leader in methanol production, supplying the chemical to various markets including China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also owns and leases storage and terminal facilities.
This recent stock purchase by a director, coupled with favorable analyst ratings, suggests a positive outlook for Methanex. Investors will be keen to see how the company performs in the coming quarters and whether it can continue to capitalize on the current market conditions.
First Piper 