Methanex (TSE:MX) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$80.29 and traded as high as C$90.47. Methanex shares last traded at C$88.68, with a volume of 301,387 shares traded.

Analysts Set New Price Targets

MX has been the topic of several recent research reports. Canadian Imperial Bank of Commerce upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$60.00.

Methanex Trading Up 0.5%

The company’s fifty day moving average price is C$82.00 and its two-hundred day moving average price is C$80.29. The company has a current ratio of 2.07, a quick ratio of 1.59 and a debt-to-equity ratio of 122.11. The firm has a market cap of C$6.86 billion, a P/E ratio of 100.77, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Tuesday, July 28th. The company reported C$5.50 earnings per share (EPS) for the quarter. Methanex had a net margin of 2.05% and a return on equity of 3.50%. The business had revenue of C$1.98 billion during the quarter. As a group, sell-side analysts predict that Methanex Co. will post 5.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alejandro Larrive sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of C$88.03, for a total transaction of C$176,060.00. Following the completion of the sale, the director owned 8,009 shares of the company’s stock, valued at approximately C$705,032.27. This trade represents a 19.98% decrease in their ownership of the stock. Corporate insiders own 0.35% of the company’s stock.

Methanex Company Profile

Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol globally. 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’. Methanex can be visited online at www.methanex.com.