Methanex (TSE:MX) Hits New 52-Week High – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) reached a new 52-week high during trading on Monday . The stock traded as high as C$74.00 and last traded at C$70.62, with a volume of 157678 shares. The stock had previously closed at C$68.82.

Analyst Ratings Changes

Several research firms recently issued reports on MX. Scotiabank raised their price objective on shares of Methanex from C$48.00 to C$60.00 in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Raymond James Financial lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Methanex has an average rating of “Moderate Buy” and an average price target of C$50.00.

Methanex Price Performance

The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The stock’s 50-day moving average is C$63.33 and its two-hundred day moving average is C$55.63. The stock has a market cap of C$5.57 billion, a PE ratio of 24.16, a PEG ratio of 0.44 and a beta of 1.11.

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.