Methanex (TSE:MX) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$62.84 and traded as low as C$59.50. Methanex shares last traded at C$60.05, with a volume of 88,826 shares trading hands.

Analyst Upgrades and Downgrades

MX has been the topic of several research reports. Tudor Pickering raised Methanex to a “strong-buy” rating in a research report on Wednesday, September 11th. Piper Sandler raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Barclays downgraded Methanex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 10th.

Methanex Stock Down 0.3 %

The firm has a market cap of C$4.05 billion, a price-to-earnings ratio of 20.64, a P/E/G 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. The stock has a 50-day moving average of C$56.06 and a 200-day moving average of C$62.82.

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

Insiders Place Their Bets

In other Methanex news, Director Leslie O’donoghue bought 2,500 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was purchased at an average cost of C$54.75 per share, for a total transaction of C$136,876.00. Also, Director Dean Richardson bought 1,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of C$50.52 per share, with a total value of C$75,780.00. Insiders acquired 4,953 shares of company stock worth $262,064 over the last three months. 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.