Methanex (TSE:MX) Hits New 52-Week High – Here’s Why

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$76.14 and last traded at C$76.03, with a volume of 67015 shares traded. The stock had previously closed at C$71.89.

Wall Street Analyst Weigh In

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 Up 6.1 %

The firm has a market capitalization of C$5.14 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 0.44 and a beta of 1.79. The business has a 50 day simple moving average of C$68.80 and a 200-day simple moving average of C$62.76. The company has a debt-to-equity ratio of 131.58, a quick ratio of 1.59 and a current ratio of 1.25.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings data 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. The firm had revenue of C$1.28 billion during the quarter, compared to the consensus estimate of C$1.26 billion. Methanex had a return on equity of 10.21% and a net margin of 4.06%. On average, equities analysts expect that Methanex Co. will post 5.9482927 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the company’s stock in a transaction 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. 0.35% of the stock is currently owned by corporate insiders.

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.