Methanex (TSE:MX) Hits New 1-Year High – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) hit a new 52-week high during mid-day trading on Monday. The stock traded as high as C$92.57 and last traded at C$92.27, with a volume of 103,492 shares changing hands. The stock had previously closed at C$88.51.

Analysts Set New Price Targets

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

Methanex Stock Performance

The firm has a fifty day moving average price of C$85.11 and a 200 day moving average price of C$77.81. 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 stock has a market cap of C$6.92 billion, a PE ratio of 101.59, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66.

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

Insider Buying and Selling at Methanex

In related news, Director Alejandro Larrive sold 2,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 8,009 shares of the company’s stock, valued at C$705,032.27. This trade represents a 19.98% decrease in their position. Insiders own 0.35% of the company’s stock.

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.