Methanex (TSE:MX) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$63.02 and traded as high as C$68.92. Methanex shares last traded at C$66.86, with a volume of 205,747 shares trading hands.

Analysts Set New Price Targets

Separately, Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th.

Methanex Trading Down 3.0 %

The business’s 50 day simple moving average is C$70.38 and its 200 day simple moving average is C$63.02. The stock has a market cap of C$4.51 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 0.44 and a beta of 1.79. The company has a quick ratio of 1.59, a current ratio of 1.25 and a debt-to-equity ratio of 131.58.

Insider Buying and Selling at Methanex

In related news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of C$65.39, for a total value of C$504,818.52. Corporate insiders own 0.35% of the company’s stock.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.