Methanex (TSE:MX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$62.00 and traded as high as C$70.25. Methanex shares last traded at C$69.69, with a volume of 93,313 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MX shares. Tudor Pickering raised shares of Methanex to a “strong-buy” rating in a research report on Wednesday, September 11th. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Barclays lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 10th.

Methanex Stock Performance

The company has a quick ratio of 1.59, a current ratio of 1.25 and a debt-to-equity ratio of 131.58. The stock’s fifty day moving average is C$61.15 and its two-hundred day moving average is C$62.00. The firm has a market capitalization of C$4.70 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 0.44 and a beta of 1.79.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$1.65 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of C$1.28 billion for the quarter, compared to analyst estimates of C$1.26 billion. On average, analysts predict that Methanex Co. will post 5.9482927 earnings per share for the current year.

Insiders Place Their Bets

In other Methanex news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of Methanex stock in a transaction on Monday, December 16th. The shares were sold at an average price of C$65.39, for a total transaction of C$504,818.52. Company 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.