Methanex (TSE:MX) Sets New 12-Month High – Here’s Why

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price reached a new 52-week high 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 equities analysts have issued reports on MX shares. 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. National Bank Financial upgraded shares of Methanex to a “strong-buy” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$60.00.

Methanex Price Performance

The company has a 50-day moving average price of C$84.73 and a two-hundred day moving average price of C$80.72. The company has a debt-to-equity ratio of 122.11, a current ratio of 2.07 and a quick ratio of 1.59. The company has a market cap of C$6.98 billion, a PE ratio of 102.51, a P/E/G ratio of 0.44 and a beta of 0.66.

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

Insiders Place Their Bets

In related news, Director Alejandro Larrive sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of C$88.03, for a total transaction of C$176,060.00. Following the completion of the transaction, the director directly owned 8,009 shares in the company, valued at C$705,032.27. This represents a 19.98% decrease in their position. 0.35% of the stock is currently owned by company insiders.

About Methanex

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.