Methanex (TSE:MX) Stock Passes Below 200 Day Moving Average of $61.48

Methanex Co. (TSE:MXGet Rating) (NASDAQ:MEOH)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$61.48 and traded as low as C$52.36. Methanex shares last traded at C$52.65, with a volume of 270,228 shares.

Several equities research analysts recently issued reports on MX shares. Alembic Global Advisors reissued a “hold” rating and issued a C$40.00 target price on shares of Methanex in a report on Monday, May 9th. Piper Sandler lowered shares of Methanex to a “sell” rating and set a C$48.00 target price for the company. in a report on Tuesday, May 10th. Scotiabank lowered shares of Methanex to a “hold” rating and set a C$50.00 target price for the company. in a report on Tuesday, May 31st. Finally, BMO Capital Markets reissued a “buy” rating and issued a C$65.00 target price on shares of Methanex in a report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$55.54.

The company has a market capitalization of C$3.64 billion and a P/E ratio of 5.83. The business has a 50-day moving average of C$63.22 and a 200-day moving average of C$61.40. The company has a debt-to-equity ratio of 126.35, a current ratio of 2.28 and a quick ratio of 1.71.

Methanex (TSE:MXGet Rating) (NASDAQ:MEOH) last released its earnings results on Wednesday, April 27th. The company reported C$2.74 earnings per share for the quarter, topping the consensus estimate of C$2.63 by C$0.11. The business had revenue of C$1.49 billion for the quarter, compared to the consensus estimate of C$1.49 billion. Sell-side analysts predict that Methanex Co. will post 5.4457155 EPS for the current fiscal year.

In other news, Director Nojan Abrary acquired 1,301 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average cost of C$63.14 per share, for a total transaction of C$82,146.44. Following the completion of the acquisition, the director now directly owns 16,966 shares of the company’s stock, valued at approximately C$1,071,250.21. Also, Director Vanessa James sold 7,500 shares of Methanex stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of C$68.15, for a total value of C$511,125.00. Following the completion of the transaction, the director now owns 35,444 shares in the company, valued at approximately C$2,415,508.60. Insiders purchased 1,601 shares of company stock valued at $99,848 over the last 90 days.

About Methanex (TSE:MX)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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