Methanex (TSE:MX) Reaches New 12-Month High – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$78.18 and last traded at C$76.75, with a volume of 169228 shares changing hands. The stock had previously closed at C$75.90.

Analyst Upgrades and Downgrades

Separately, Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 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 has a market cap of C$4.91 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The firm’s 50-day moving average is C$69.95 and its two-hundred day moving average is C$62.96.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.65 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 company had revenue of C$1.28 billion for the quarter, compared to analyst estimates of C$1.26 billion. As a group, research 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 firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of C$65.39, for a total value of C$504,818.52. Insiders own 0.35% of the company’s stock.

Methanex Company Profile

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.