Methanex (TSE:MX) Stock Price Up 13.9% – Time to Buy?

Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) rose 13.9% on Friday. The stock traded as high as C$100.00 and last traded at C$100.00. Approximately 323,810 shares were traded during trading, an increase of 13% from the average session volume of 287,237 shares. The stock had previously closed at C$87.77.

Analyst Upgrades and Downgrades

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

Methanex Trading Up 13.2%

The company has a 50 day moving average of C$85.49 and a 200 day moving average of C$78.05. 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 capitalization of C$7.69 billion, a price-to-earnings ratio of 112.94, a P/E/G ratio of 0.44 and a beta of 0.66.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Thursday, October 29th. The company reported C$5.25 earnings per share (EPS) for the quarter. Methanex had a net margin of 2.05% and a return on equity of 3.50%. The company had revenue of C$1.98 billion for the quarter. On average, research analysts predict that Methanex Co. will post 5.95 EPS for the current fiscal year.

Insider Activity at Methanex

In other news, Director Alejandro Larrive sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 8,009 shares of the company’s stock, valued at approximately C$705,032.27. This trade represents a 19.98% decrease in their ownership of the stock. 0.35% of the stock is owned by company 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.