Methanex (TSE:MX) Reaches New 1-Year High – Here’s What Happened

Methanex Co. (TSE:MX) (NASDAQ:MEOH) hit a new 52-week high on Friday. The company traded as high as C$92.15 and last traded at C$92.17, with a volume of 87,940 shares traded. The stock had previously closed at C$90.25.

Analyst Ratings Changes

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

Methanex Stock Performance

The company has a debt-to-equity ratio of 122.11, a quick ratio of 1.59 and a current ratio of 2.07. The business’s fifty day simple moving average is C$83.49 and its 200-day simple moving average is C$80.59. The company has a market capitalization of C$7.11 billion, a P/E ratio of 104.45, a P/E/G ratio of 0.44 and a beta of 0.66.

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

Insider Buying and Selling

In related news, Director Alejandro Larrive sold 2,000 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of C$88.03, for a total value of C$176,060.00. Following the sale, the director directly owned 8,009 shares of the company’s stock, valued at C$705,032.27. This represents a 19.98% decrease in their position. Insiders own 0.35% of the company’s stock.

About Methanex

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.