Methanex (TSE:MX) Hits New 1-Year High – Time to Buy?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$78.18 and last traded at C$76.75, with a volume of 169228 shares changing hands. The stock had previously closed at C$75.90.

Analysts Set New Price Targets

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

Methanex Stock Down 2.5 %

The firm has a 50-day simple moving average of C$69.95 and a 200 day simple moving average of C$62.96. The company has a market capitalization of C$4.91 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its earnings results on Wednesday, November 6th. The company reported C$1.65 EPS for the quarter, topping analysts’ consensus estimates of C$0.60 by C$1.05. Methanex had a net margin of 4.06% and a return on equity of 10.21%. The business had revenue of C$1.28 billion for the quarter, compared to analysts’ expectations of C$1.26 billion. On average, research analysts predict that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$65.39, for a total transaction of C$504,818.52. Insiders own 0.35% of the company’s stock.

Methanex Company Profile

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.