Insider Buying: Methanex Co. (TSE:MX) Director Purchases 1,479 Shares of Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) Director Rich Sumner purchased 1,479 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average price of C$50.65 per share, for a total transaction of C$74,907.36.

Methanex Stock Down 6.5%

TSE:MX traded down C$3.31 during midday trading on Monday, hitting C$47.95. 426,067 shares of the company were exchanged, compared to its average volume of 207,658. The company has a market capitalization of C$2.29 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The company has a fifty day simple moving average of C$44.92 and a 200 day simple moving average of C$56.50. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53. Methanex Co. has a fifty-two week low of C$36.10 and a fifty-two week high of C$78.18.

Analyst Ratings Changes

Several brokerages have recently issued reports on MX. Raymond James Financial set a C$40.00 target price on shares of Methanex and gave the company an “outperform” rating in a research report on Friday, June 13th. Scotiabank set a C$53.00 price target on shares of Methanex and gave the company an “outperform” rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$46.50.

Methanex Company Profile

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.