Insider Selling: Methanex (TSE:MX) Director Sells C$176,060.00 in Stock

Key Points

• Methanex director Alejandro Larrive sold 2,000 shares at an average price of C$88.03, generating C$176,060 and reducing his direct ownership by nearly 20% to 8,009 shares.
• Methanex shares fell 1.7% to C$88.12 during Wednesday trading, with the company valued at approximately C$6.82 billion and trading near its 12-month high of C$92.97.
• Analyst sentiment remains positive, with a consensus “Buy” rating after CIBC and National Bank Financial upgraded the stock to “Strong Buy,” although the consensus target price of C$60 is below the current share price.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH Director Alejandro Larrive sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of C$88.03, for a total transaction of C$176,060.00. Following the sale, the director directly owned 8,009 shares in the company, valued at C$705,032.27. This trade represents a 19.98% decrease in their ownership of the stock.

Alejandro Larrive also recently made the following trade(s):

• On Thursday, August 20th, Alejandro Larrive sold 2,000 shares of Methanex stock. The stock was sold at an average price of C$83.92, for a total transaction of C$167,840.00.

Methanex Trading Down 1.7%

TSE:MX traded down C$1.51 during trading hours on Wednesday, hitting C$88.12. 205,250 shares of the stock were exchanged, compared to its average volume of 298,479. The company has a market capitalization of C$6.82 billion, a P/E ratio of 100.14, a price-to-earnings-growth ratio of 0.44 and a beta of 0.57. The company has a quick ratio of 1.59, a current ratio of 2.07 and a debt-to-equity ratio of 122.11. The company's 50 day moving average is C$78.66 and its two-hundred day moving average is C$78.72. Methanex Co. has a twelve month low of C$45.01 and a twelve month high of C$92.97.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last released its earnings results on Tuesday, July 28th. The company reported C$5.50 EPS for the quarter. Methanex had a return on equity of 3.50% and a net margin of 2.05%.The company had revenue of C$1.98 billion during the quarter. On average, sell-side analysts anticipate that Methanex Co. will post 5.9482927 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MX has been the topic of a number of research reports. Canadian Imperial Bank of Commerce upgraded shares of Methanex from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. National Bank Financial raised shares of Methanex to a "strong-buy" rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$60.00.

Methanex Company Profile

Methanex is a Vancouver-based, publicly traded company and is the world's largest supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol 'MX' and on the Nasdaq Global Select Market in the United States under the trading symbol 'MEOH'. Methanex can be visited online at www.methanex.com.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.