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

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$79.26 and traded as high as C$83.87. Methanex shares last traded at C$83.55, with a volume of 148,317 shares.

Analyst Ratings Changes

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

Methanex Price Performance

The company has a debt-to-equity ratio of 122.11, a current ratio of 2.07 and a quick ratio of 1.59. The firm has a market cap of C$6.44 billion, a P/E ratio of 94.66, a PEG ratio of 0.44 and a beta of 0.57. The stock’s 50-day simple moving average is C$80.33 and its two-hundred day simple moving average is C$79.38.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Tuesday, July 28th. The company reported C$5.50 earnings per share (EPS) for the quarter. The firm had revenue of C$1.98 billion during the quarter. Methanex had a net margin of 2.05% and a return on equity of 3.50%. Equities research analysts forecast that Methanex Co. will post 5.9482927 earnings per share for the current fiscal year.

Insider Transactions at Methanex

In other Methanex news, Director Alejandro Larrive sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of C$88.03, for a total transaction of C$176,060.00. Following the completion of the transaction, the director owned 8,009 shares in the company, valued at C$705,032.27. The trade was a 19.98% decrease in their ownership of the stock. 0.35% of the stock is currently owned by 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.