Methanex (TSE:MX) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$62.57 and traded as high as C$73.44. Methanex shares last traded at C$72.84, with a volume of 89,528 shares changing hands.

Wall Street Analysts Forecast Growth

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

Methanex Stock Down 0.5 %

The company has a debt-to-equity ratio of 131.58, a quick ratio of 1.59 and a current ratio of 1.25. The stock has a 50 day moving average price of C$68.18 and a 200 day moving average price of C$62.62. The company has a market cap of C$4.91 billion, a P/E ratio of 25.03, a P/E/G ratio of 0.44 and a beta of 1.79.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its quarterly earnings data 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 return on equity of 10.21% and a net margin of 4.06%. The company had revenue of C$1.28 billion for the quarter, compared to the consensus estimate of C$1.26 billion. Research analysts expect that Methanex Co. will post 5.9482927 earnings per share for the current fiscal year.

Insider Transactions at Methanex

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