Methanex (TSE:MX) Reaches New 52-Week Low – Here’s Why

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price reached a new 52-week low on Monday . The stock traded as low as C$37.30 and last traded at C$37.86, with a volume of 33147 shares changing hands. The stock had previously closed at C$40.88.

Analyst Upgrades and Downgrades

MX has been the subject of several research reports. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Scotiabank cut Methanex from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Methanex has an average rating of “Buy”.

Methanex Stock Down 4.5 %

The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The stock’s 50 day moving average price is C$60.87 and its 200-day moving average price is C$62.13. The company has a market cap of C$1.86 billion, a PE ratio of 12.27, a PEG ratio of 0.44 and a beta of 1.79.

Insider Activity

In other Methanex news, Senior Officer Kevin Maloney purchased 1,400 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of C$53.55 per share, with a total value of C$74,969.02. Also, Director Karine Delbarre acquired 1,081 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of C$53.07 per share, for a total transaction of C$57,368.72. Insiders own 0.35% of the company’s stock.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. 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.