Insider Buying: Methanex (TSE:MX) Insider Purchases C$3,552,660.00 in Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani purchased 43,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of C$82.62 per share, for a total transaction of C$3,552,660.00. Following the purchase, the insider owned 2,571,000 shares in the company, valued at C$212,416,020. This trade represents a 1.70% increase in their ownership of the stock.

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

• On Friday, May 15th, Sunil Jagwani purchased 40,000 shares of Methanex stock. The stock was bought at an average cost of C$87.11 per share, for a total transaction of C$3,484,400.00.
• On Thursday, May 7th, Sunil Jagwani purchased 40,100 shares of Methanex stock. The stock was bought at an average cost 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 stock was bought at an average cost 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 stock was bought at an average cost 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 stock was bought at an average cost of C$88.15 per share, for a total transaction of C$2,820,800.00.

Methanex Stock Performance

MX stock opened at C$82.50 on Friday. The business’s fifty day moving average is C$82.78 and its 200-day moving average is C$68.45. 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 has a market cap of C$6.38 billion, a P/E ratio of -113.01, a price-to-earnings-growth ratio of 0.44 and a beta of 0.65. Methanex Co. has a twelve month low of C$43.27 and a twelve month high of C$92.97.

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

Wall Street Analysts Forecast Growth

MX has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce downgraded Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Royal Bank Of Canada downgraded 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, one has issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.