Sunil Jagwani Acquires 40,000 Shares of Methanex (TSE:MX) Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani purchased 40,000 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of C$87.11 per share, for a total transaction of C$3,484,400.00. Following the acquisition, the insider directly owned 2,485,000 shares of the company’s stock, valued at C$216,468,350. This represents a 1.64% increase in their position.

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

• On Thursday, May 7th, Sunil Jagwani purchased 40,100 shares of Methanex stock. The shares were acquired at an average price of C$84.56 per share, for a total transaction of C$3,390,856.00.
• On Thursday, May 7th, Sunil Jagwani purchased 41,000 shares of Methanex stock. The shares were acquired at an average price of C$84.00 per share, for a total transaction of C$3,444,000.00.
• On Monday, May 4th, Sunil Jagwani purchased 31,900 shares of Methanex stock. The shares were acquired at an average price of C$88.94 per share, for a total transaction of C$2,837,186.00.
• On Monday, May 4th, Sunil Jagwani purchased 32,000 shares of Methanex stock. The shares were acquired at an average price of C$88.15 per share, for a total transaction of C$2,820,800.00.

Methanex Stock Down 1.5%

Shares of MX stock traded down C$1.28 on Tuesday, reaching C$86.01. 141,084 shares of the company’s stock traded hands, compared to its average volume of 330,844. Methanex Co. has a 12-month low of C$43.27 and a 12-month high of C$92.97. The company has a debt-to-equity ratio of 143.44, a quick ratio of 1.59 and a current ratio of 1.96. The company has a market capitalization of C$6.65 billion, a P/E ratio of -117.82, a price-to-earnings-growth ratio of 0.44 and a beta of 0.65. The business’s 50 day moving average price is C$80.90 and its two-hundred day moving average price is C$66.65.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MX. Scotiabank upped their price target 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 downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada downgraded shares of Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.