Methanex (TSE:MX) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$62.84 and traded as low as C$59.50. Methanex shares last traded at C$60.05, with a volume of 88,826 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Piper Sandler upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Tudor Pickering raised Methanex to a “strong-buy” rating in a report on Wednesday, September 11th.

Methanex Stock Performance

The company has a market capitalization of C$4.05 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The stock’s fifty day simple moving average is C$56.07 and its 200-day simple moving average is C$62.84. 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 announced its quarterly earnings data on Wednesday, November 6th. The company reported C$1.65 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of C$1.26 billion. As a group, equities analysts predict that Methanex Co. will post 5.9482927 earnings per share for the current year.

Insider Transactions at Methanex

In related news, Director Leslie O’donoghue acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of C$54.75 per share, for a total transaction of C$136,876.00. Also, Director Dean Richardson bought 1,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of C$50.52 per share, with a total value of C$75,780.00. Insiders have acquired 4,953 shares of company stock worth $262,064 over the last quarter. 0.35% of the stock is currently owned by insiders.

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.