Methanex (TSE:MX) Trading Up 5% – Here’s Why

Methanex Co. (TSE:MX) (NASDAQ:MEOH) traded up 5% during trading on Thursday . The stock traded as high as C$77.00 and last traded at C$76.23. 109,963 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 284,389 shares. The stock had previously closed at C$72.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial downgraded shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Scotiabank boosted their price target on shares of Methanex from C$48.00 to C$60.00 in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$50.00.

Methanex Price Performance

The firm has a market capitalization of C$5.93 billion, a PE ratio of 25.73, a P/E/G ratio of 0.44 and a beta of 1.06. The company has a debt-to-equity ratio of 143.59, a current ratio of 2.06 and a quick ratio of 1.59. The business’s 50 day moving average is C$67.92 and its two-hundred day moving average is C$58.07.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings results on Thursday, March 5th. The company reported C($0.19) EPS for the quarter. The company had revenue of C$1.28 billion during the quarter. Methanex had a return on equity of 3.18% and a net margin of 2.19%. As a group, research analysts anticipate that Methanex Co. will post 5.9482927 EPS for the current year.

Methanex Company Profile

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.