Methanex (TSE:MX) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$72.66 and traded as low as C$67.35. Methanex shares last traded at C$69.30, with a volume of 301,307 shares trading hands.

Analyst Ratings Changes

Separately, Royal Bank Of Canada cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$60.00.

Methanex Price Performance

The firm’s 50-day simple moving average is C$80.90 and its 200 day simple moving average is C$72.83. 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 stock has a market capitalization of C$5.07 billion, a P/E ratio of -89.74, a PEG ratio of 0.44 and a beta of 0.56.

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

Insider Activity at Methanex

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

Methanex Company Profile

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.