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

Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.04 and traded as high as C$72.00. Methanex shares last traded at C$71.83, with a volume of 90,554 shares traded.

Analyst Upgrades and Downgrades

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

Methanex Trading Down 0.0 %

The company has a current ratio of 1.25, a quick ratio of 1.59 and a debt-to-equity ratio of 131.58. The stock has a market capitalization of C$4.81 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The business has a 50 day simple moving average of C$63.39 and a 200-day simple moving average of C$62.05.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share (EPS) 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 business had revenue of C$1.28 billion for the quarter, compared to analysts’ expectations of C$1.26 billion. On average, equities analysts predict that Methanex Co. will post 5.9482927 earnings per share for the current year.

Insider Activity at Methanex

In other Methanex news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was 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.