Methanex (TSE:MX) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$75.16 and traded as high as C$77.56. Methanex shares last traded at C$75.21, with a volume of 349,434 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MX. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a research report on Monday, July 13th. Canadian Imperial Bank of Commerce raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada downgraded Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$60.00.

Methanex Stock Up 0.6%

The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 143.44. The company’s fifty day moving average is C$76.08 and its 200-day moving average is C$75.35. The company has a market cap of C$5.98 billion, a PE ratio of -105.84, a PEG ratio of 0.44 and a beta of 0.63.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Wednesday, April 29th. The company reported C$0.42 earnings per share for the quarter. The business had revenue of C$1.35 billion during the quarter. Methanex had a negative net margin of 1.26% and a negative return on equity of 1.84%. On average, analysts predict that Methanex Co. will post 5.9482927 EPS for the current year.

Insider Buying and Selling at Methanex

In other Methanex news, insider Sergio Almarza sold 4,500 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of C$86.06, for a total transaction of C$387,270.00. Following the completion of the sale, the insider directly owned 11,570 shares in the company, valued at C$995,714.20. The trade was a 28.00% decrease in their position. Also, insider Sunil Jagwani purchased 43,000 shares of Methanex stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of C$82.62 per share, with a total value of C$3,552,660.00. Following the transaction, the insider directly owned 2,571,000 shares in the company, valued at approximately C$212,416,020. The trade was a 1.70% increase in their ownership of the stock. Over the last 90 days, insiders have bought 278,000 shares of company stock valued at $23,636,345 and have sold 13,475 shares valued at $1,175,470. 0.35% of the stock is owned by corporate insiders.

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.