Methanex (TSE:MX) Insider Buys C$2,837,186.00 in Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani acquired 31,900 shares of Methanex stock in a transaction dated Monday, May 4th. The stock was acquired at an average cost of C$88.94 per share, with a total value of C$2,837,186.00. Following the completion of the transaction, the insider directly owned 2,211,900 shares of the company’s stock, valued at C$196,726,386. This trade represents a 1.46% increase in their position.

Sunil Jagwani also recently made the following trade(s):

• On Monday, May 4th, Sunil Jagwani bought 32,000 shares of Methanex stock. The shares were bought at an average cost of C$88.15 per share, for a total transaction of C$2,820,800.00.

Methanex Stock Performance

TSE:MX traded up C$4.12 during trading hours on Monday, hitting C$86.50. 182,948 shares of the company traded hands, compared to its average volume of 337,266. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 143.44. The stock has a market capitalization of C$6.69 billion, a price-to-earnings ratio of -118.49, a P/E/G ratio of 0.44 and a beta of 0.65. The firm has a 50-day moving average of C$78.69 and a 200 day moving average of C$64.80. Methanex Co. has a twelve month low of C$43.27 and a twelve month high of C$92.97.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%.The firm had revenue of C$1.28 billion for the quarter. On average, analysts forecast that Methanex Co. will post 5.9482927 EPS for the current year.

Wall Street Analyst Weigh In

MX has been the topic of several research analyst reports. Raymond James Financial downgraded shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. Scotiabank upped their target price on shares of Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Royal Bank Of Canada cut Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$50.00.

About Methanex

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.