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. The company was incorporated in 1968 and is headquartered in Vancouver, Canada.
IPO Year:
Exchange: NASDAQ
Website: methanex.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/10/2024 | $56.00 → $44.00 | Overweight → Equal Weight | Barclays |
| 8/7/2024 | $50.00 → $51.00 | Neutral → Overweight | Piper Sandler |
| 2/8/2024 | $51.00 → $60.00 | Neutral → Buy | UBS |
| 11/2/2023 | $40.00 → $45.00 | Sell → Neutral | UBS |
| 10/30/2023 | $47.00 → $54.00 | Sector Perform → Sector Outperform | Scotiabank |
| 9/19/2023 | $50.00 → $60.00 | Mkt Perform → Outperform | Raymond James |
| 6/12/2023 | $60.00 → $47.00 | Sector Outperform → Sector Perform | Scotiabank |
| 4/12/2023 | $46.00 → $49.00 | Underweight → Neutral | Piper Sandler |
| 3/13/2023 | $40.00 → $60.00 | Neutral → Overweight | Alembic Global Advisors |
| 2/6/2023 | $60.00 | Hold → Buy | Tudor, Pickering, Holt & Co. |
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
6-K - METHANEX CORP (0000886977) (Filer)
Except where otherwise noted, all currency amounts are stated in United States dollars. Financial and Production Highlights Net income attributable to Methanex shareholders of $31 million and Adjusted EBITDA of $216 million in the third quarter. Our average realized price in the third quarter was $356 per tonne compared to $352 per tonne in the second quarter of 2024.Announced the signing of a definitive agreement to acquire OCI Global's international methanol business for approximately $2.05 billion, including OCI's interest in two world class methanol facilities in Beaumont, Texas. The transaction is expected to close in the first half of 2025.Geismar 3 ("G3") produced first methanol in
Except where otherwise noted, all currency amounts are stated in United States dollars. Unique opportunity to acquire world-scale producing methanol assets with access to robust North American natural gas feedstock Aligns with Methanex's strategic priorities and value-creation strategyAcquisition expected to be immediately accretive to free cash flow per share OCI to hold a 13 percent ownership interest upon closing VANCOUVER, British Columbia, Sept. 08, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation ("Methanex" or the "Company") (TSX:MX) (NASDAQ:MEOH) announced today that it has entered into a definitive agreement to acquire OCI Global's ("OCI") international methanol business for $2.05
Except where otherwise noted, all currency amounts are stated in United States dollars. Net income attributable to Methanex shareholders of $35 million and Adjusted EBITDA of $164 million in the second quarter. Our average realized price in the second quarter was $352 per tonne compared to $343 per tonne in the first quarter of 2024.The repairs to the autothermal reformer are complete on the 1.8 million tonne methanol plant, Geismar 3 ("G3"). First methanol was successfully produced in late July and the plant is in the process of of ramping up to full rates. We have completed the repairs on the autothermal reformer and successfully operated the unit under design conditions. G3 will signific
VANCOUVER, British Columbia, July 18, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (the "Company" or "Methanex") (TSX:MX) (NASDAQ:MEOH) announced today that its Board of Directors has declared a quarterly dividend of US$0.185 per share. The dividend will be payable on September 30, 2024, to holders of common shares of record on September 16, 2024. Methanex is a Vancouver-based, publicly traded company and is one of the world's largest producers and suppliers of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Select Market in the United States under the trading sy
VANCOUVER, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (the "Company" or "Methanex") (TSX:MX) (NASDAQ:MEOH) announced today that its Board of Directors has declared a quarterly dividend of US$0.185 per share. The dividend will be payable on June 28, 2024, to holders of common shares of record on June 14, 2024. Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Select Market in the United States under the trading symbol "MEOH". Metha
Except where otherwise noted, all currency amounts are stated in United States dollars. Net income attributable to Methanex shareholders of $53 million and Adjusted EBITDA of $160 million in the first quarter. Our average realized price in the first quarter was $343 per tonne compared to $322 per tonne in the fourth quarter of 2023.Work is progressing to safely repair the Geismar 3 ("G3") plant and we believe that the plant is on track to start up in the third quarter of 2024. Repair costs are expected to be $15 million and the total capital cost for the project is expected to remain at approximately $1.30 billion. The remaining capital cost of $70 million is fully funded with cash on hand.
VANCOUVER, British Columbia, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (the "Company" or "Methanex") (TSX:MX) (NASDAQ:MEOH) announced today that its Board of Directors has declared a quarterly dividend of US$0.185 per share. The dividend will be payable on March 28, 2024, to holders of common shares of record on March 14, 2024. Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Select Market in the United States under the trading symbol "MEOH". Meth
Except where otherwise noted, all currency amounts are stated in United States dollars. Net income attributable to Methanex shareholders of $33 million and Adjusted EBITDA of $148 million in the fourth quarter. The average realized price in the fourth quarter was $322 per tonne compared to $303 per tonne in the third quarter of 2023.Full year 2023 net income attributable to Methanex shareholders of $174 million and Adjusted EBITDA of $622 million.Fourth quarter production was higher compared to the third quarter due to higher production in Chile, New Zealand, Geismar and Medicine Hat, which was partially offset by lower production in Egypt.The 1.8 million tonne methanol plant, Geismar 3 ("G
VANCOUVER, British Columbia, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Methanex Corporation (the "Company" or "Methanex") (TSX:MX) (NASDAQ:MEOH) announced today that its Board of Directors has declared a quarterly dividend of US$0.185 per share. The dividend will be payable on December 29, 2023, to holders of common shares of record on December 15, 2023. Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Select Market in the United States under the trading symbol "MEOH"
Except where otherwise noted, all currency amounts are stated in United States dollars. Net income attributable to Methanex shareholders of $24 million and Adjusted EBITDA of $105 million in the third quarter. The average realized price in the third quarter was $303 per tonne compared to $338 per tonne in the second quarter of 2023.Geismar 3 ("G3") project is progressing safely to plan and construction is near completion with commercial production expected around the end of 2023. The remaining cash spend of $140 - 190 million is fully funded with cash on hand.Chile I restarted in September with increased gas availability from Argentina. We are increasing our 2023 production guidance for Chi
Except where otherwise noted, all currency amounts are stated in United States dollars. Financial and Production Highlights Net income attributable to Methanex shareholders of $31 million and Adjusted EBITDA of $216 million in the third quarter. Our average realized price in the third quarter was $356 per tonne compared to $352 per tonne in the second quarter of 2024.Announced the signing of a definitive agreement to acquire OCI Global's international methanol business for approximately $2.05 billion, including OCI's interest in two world class methanol facilities in Beaumont, Texas. The transaction is expected to close in the first half of 2025.Geismar 3 ("G3") produced first methanol in
VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) ("Company") announced today the successful syndication of acquisition financing to support the earlier announced agreement to acquire OCI Global's international methanol business ("OCI Acquisition") for $2.05 billion. The new financing arrangements are with a syndicate of highly rated financial institutions and include: Up to $650 million in Term Loan A commitments which can be drawn upon closing of the OCI Acquisition. The Term Loan A carries a variable interest rate and is split between three and four-year tenors that can be flexibly repaid to support de-levering. $600 million in
Except where otherwise noted, all currency amounts are stated in United States dollars. Unique opportunity to acquire world-scale producing methanol assets with access to robust North American natural gas feedstock Aligns with Methanex's strategic priorities and value-creation strategyAcquisition expected to be immediately accretive to free cash flow per share OCI to hold a 13 percent ownership interest upon closing VANCOUVER, British Columbia, Sept. 08, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation ("Methanex" or the "Company") (TSX:MX) (NASDAQ:MEOH) announced today that it has entered into a definitive agreement to acquire OCI Global's ("OCI") international methanol business for $2.05
VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it has entered into short-term commercial arrangements to provide its contracted natural gas into the New Zealand electricity market. As a result, it is temporarily idling its manufacturing operations in New Zealand until the end of October 2024. These commercial arrangements are expected to positively impact Methanex's Q3 and Q4 2024 earnings with after-tax proceeds expected to meaningfully exceed the margin lost on New Zealand methanol production delivered to customers. The commercial arrangements are structured to provide Methanex with a base price for each uni
Except where otherwise noted, all currency amounts are stated in United States dollars. Net income attributable to Methanex shareholders of $35 million and Adjusted EBITDA of $164 million in the second quarter. Our average realized price in the second quarter was $352 per tonne compared to $343 per tonne in the first quarter of 2024.The repairs to the autothermal reformer are complete on the 1.8 million tonne methanol plant, Geismar 3 ("G3"). First methanol was successfully produced in late July and the plant is in the process of of ramping up to full rates. We have completed the repairs on the autothermal reformer and successfully operated the unit under design conditions. G3 will signific
VANCOUVER, British Columbia, July 18, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (the "Company" or "Methanex") (TSX:MX) (NASDAQ:MEOH) announced today that its Board of Directors has declared a quarterly dividend of US$0.185 per share. The dividend will be payable on September 30, 2024, to holders of common shares of record on September 16, 2024. Methanex is a Vancouver-based, publicly traded company and is one of the world's largest producers and suppliers of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Select Market in the United States under the trading sy
VANCOUVER, British Columbia and CALGARY. Alberta, July 17, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation ("Methanex") (TSX:MX) (NASDAQ:MEOH), one of the world's largest methanol producers and suppliers and Entropy Inc. ("Entropy"), a leader in carbon capture and storage solutions, have entered into an agreement to invest in a Preliminary Front-End Engineering and Design ("Pre-FEED") study for carbon capture, utilization and sequestration ("CCUS") deployment at Methanex's Medicine Hat, Alberta facility. This collaboration will leverage Entropy's proprietary modular post-combustion carbon capture technology and Methanex's manufacturing expertise to utilize a portion of the captured CO2 to pr
Leading Canadian Companies Enter Pre-FEED for Carbon Capture Utilization and Sequestration Deployment in Alberta VANCOUVER, BC and CALGARY, AB, July 17, 2024 /CNW/ - Methanex Corporation ("Methanex") (TSX:MX) (NASDAQ:MEOH), one of the world's largest methanol producers and suppliers and Entropy Inc. ("Entropy"), a leader in carbon capture and storage solutions, have entered into an agreement to invest in a Preliminary Front-End Engineering and Design ("Pre-FEED") study for carbon capture, utilization and sequestration ("CCUS") deployment at Methanex's Medicine Hat, Alberta facility. This collaboration will leverage Entropy's proprietary modular post-combustion carbon capture technology and M
VANCOUVER, British Columbia, June 04, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that its 1.26 million tonne Egypt methanol production facility (Methanex 50% equity interest of 0.63 million tonnes per annum) was temporarily idled this morning as lower gas supply and increased seasonal demand for power generation has led to gas curtailments to industrial plants. Methanex is working closely with its partner and gas supplier to resume gas supply. Methanex is a Vancouver-based, publicly traded company and is the world's largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in
VANCOUVER, British Columbia, April 25, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held on April 25, 2024 in Vancouver, British Columbia. Voting Results from Annual General Meeting A total of 57,127,836 common shares were voted at the meeting, representing 84.78% of all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: DirectorVotes For% of Votes ForVotes Against% of Votes AgainstDoug Arnell55,781,22199.66188,6140.34Jim Bertram55,600,77999.34369
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Barclays downgraded Methanex from Overweight to Equal Weight and set a new price target of $44.00 from $56.00 previously
Piper Sandler upgraded Methanex from Neutral to Overweight and set a new price target of $51.00 from $50.00 previously
UBS upgraded Methanex from Neutral to Buy and set a new price target of $60.00 from $51.00 previously
UBS upgraded Methanex from Sell to Neutral and set a new price target of $45.00 from $40.00 previously
Scotiabank upgraded Methanex from Sector Perform to Sector Outperform and set a new price target of $54.00 from $47.00 previously
Raymond James upgraded Methanex from Mkt Perform to Outperform and set a new price target of $60.00 from $50.00 previously
Scotiabank downgraded Methanex from Sector Outperform to Sector Perform and set a new price target of $47.00 from $60.00 previously
Piper Sandler upgraded Methanex from Underweight to Neutral and set a new price target of $49.00 from $46.00 previously
Alembic Global Advisors upgraded Methanex from Neutral to Overweight and set a new price target of $60.00 from $40.00 previously
Tudor, Pickering, Holt & Co. upgraded Methanex from Hold to Buy and set a new price target of $60.00
Scotiabank analyst Ben Isaacson maintains Methanex (NASDAQ:MEOH) with a Sector Outperform and raises the price target from $58 to $60.
UBS analyst Joshua Spector maintains Methanex (NASDAQ:MEOH) with a Buy and raises the price target from $62 to $64.
RBC Capital analyst Nelson Ng reiterates Methanex (NASDAQ:MEOH) with a Sector Perform and maintains $55 price target.
The company said its 1.26 million tonne Egypt methanol production facility (Methanex 50% equity interest of 0.63 million tonnes per annum) was temporarily idled this morning as lower gas supply and increased seasonal demand for power generation has led to gas curtailments to industrial plants. Methanex is working closely with its partner and gas supplier to resume gas supply.
RBC Capital analyst Nelson Ng maintains Methanex (NASDAQ:MEOH) with a Sector Perform and raises the price target from $50 to $55.
Scotiabank analyst Ben Isaacson maintains Methanex (NASDAQ:MEOH) with a Sector Outperform and raises the price target from $54 to $58.
UBS analyst Joshua Spector maintains Methanex (NASDAQ:MEOH) with a Buy and raises the price target from $59 to $62.
Methanex (NASDAQ:MEOH) reported quarterly Adj earnings of $0.65 per share which beat the analyst consensus estimate of $0.42 by 54.76 percent. The company reported quarterly sales of $916.000 million which beat the analyst consensus estimate of $845.625 million by 8.32 percent. This is a 11.75 percent decrease over sales of $1.038 billion the same period last year.
RBC Capital analyst Nelson Ng reiterates Methanex (NASDAQ:MEOH) with a Sector Perform and maintains $45 price target.
VANCOUVER, British Columbia, April 25, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held on April 25, 2024 in Vancouver, British Columbia. Voting Results from Annual General Meeting A total of 57,127,836 common shares were voted at the meeting, representing 84.78% of all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: DirectorVotes For% of Votes ForVotes Against% of Votes AgainstDoug Arnell55,781,22199.66188,6140.34Jim Bertram55,600,77999.34369
VANCOUVER, British Columbia, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) is pleased to announce the appointment of John Sampson, Senior Vice President, Operations, Manufacturing and Engineering at Dow Inc., to its Board of Directors effective October 1, 2023. With a career spanning 40 years in the chemical and materials sector, Mr. Sampson brings a wealth of industry knowledge and business acumen. From 1996 to 2015, Mr. Sampson held a variety of increasingly senior management positions at Dow, including Vice President, Environment, Health & Safety and Manufacturing Vice President, Chemicals & Energy. In 2015, Mr. Sampson joined Olin Corp as Vice Presiden
VANCOUVER, British Columbia, April 28, 2023 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held on April 27, 2023 in Vancouver, British Columbia. Voting Results from Annual General Meeting A total of 59,123,988 common shares were voted at the meeting, representing 86% of all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: DirectorVotes For% of Votes ForVotes Against% of Votes AgainstDoug Arnell57,577,30498.90641,9951.10Jim Bertram53,779,52292.374,439,
VANCOUVER, British Columbia, April 29, 2022 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held on April 28, 2022 in Vancouver, British Columbia. Voting Results from Annual General Meeting A total of 61,242,426 common shares were voted at the meeting, representing 83.08% of all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: DirectorVotes For% of Votes ForVotes Withheld% of Votes WithheldDouglas Arnell59,993,35499.92%48,2600.08James Bertram59,526
VANCOUVER, British Columbia, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) is pleased to announce the appointment of Xiaoping Yang to its Board of Directors effective January 1, 2022. Ms. Yang brings a deep knowledge of doing business in China, manufacturing operations, commodity markets, and health and safety. Ms. Yang is a chemical engineer with over 30 years of international energy and petrochemical business experience in the USA and Asia. From 1990 to 2020 she held a variety of international executive roles at BP within the downstream and new energy businesses, including having accountability for its chemicals manufacturing operations and joint venture
VANCOUVER, BC / ACCESSWIRE / December 7, 2021 / Silver Elephant Mining Corp. ("Silver Elephant" or "the Company") (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N))) announces the following management and director appointments to the Company's proposed spinout, Flying Nickel Mining Corp. ("Flying Nickel"). Flying Nickel is well financed having completed its recent $8.6 million equity offering and has applied with TSX Venture Exchange to list its common shares as soon as practicably possible.Dan Oosterman, CEO of Flying Nickel remarks:"Our experienced exploration, environmental, operational, and M&A executives will strive to advance the Minago project and take Flying Nickel to great heights in the Cana
VANCOUVER, British Columbia, April 30, 2021 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held on April 29, 2021 in Vancouver, British Columbia. Voting Results from Annual General Meeting A total of 59,353,231 common shares were voted at the meeting, representing 77.88% of all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: DirectorVotes For% ofVotesForVotesWithheld% of VotesWithheldDouglas Arnell45,465,97976.60%13,887,25223.40%James Bertram45,436,30