Methanex (TSE:MX) Stock Price Up 3.3% – Should You Buy?

Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) rose 3.3% during mid-day trading on Tuesday . The company traded as high as C$89.13 and last traded at C$88.51. Approximately 170,267 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 346,854 shares. The stock had previously closed at C$85.65.

Analysts Set New Price Targets

MX has been the subject of a number of recent research reports. 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. Scotiabank upped their target price on shares of Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. Royal Bank Of Canada lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Finally, Raymond James Financial lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Methanex presently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.00.

Methanex Trading Up 3.4%

The company’s fifty day moving average price is C$71.82 and its two-hundred day moving average price is C$60.46. The company has a current ratio of 2.06, a quick ratio of 1.59 and a debt-to-equity ratio of 143.59. The firm has a market cap of C$6.85 billion, a P/E ratio of 95.18, a price-to-earnings-growth ratio of 0.44 and a beta of 0.46.

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

Insider Buying and Selling

In other Methanex news, insider Mark Allard sold 2,000 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of C$86.00, for a total transaction of C$172,000.00. Following the sale, the insider owned 16,604 shares of the company’s stock, valued at C$1,427,944. This represents a 10.75% decrease in their position. 0.35% of the stock is currently owned by corporate insiders.

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.