Methanex (TSE:MX) Insider Buys C$2,837,186.00 in Stock

Key Points

• Insider buying: Methanex insider Sunil Jagwani bought 31,900 shares on May 4 for about C$2.84 million, increasing his ownership by 1.46%. He also made another recent purchase of 32,000 shares for about C$2.82 million.
• Stock performance: Methanex shares rose C$4.12 to C$86.50 in Monday trading, moving near the stock’s 52-week high of C$92.97. The company has a market cap of C$6.69 billion.
• Analyst view and results: The company recently reported a quarterly loss of C$0.19 per share on revenue of C$1.28 billion, while analysts currently hold a consensus rating of Moderate Buy with an average target price of C$50.00.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH insider Sunil Jagwani acquired 31,900 shares of Methanex stock in a transaction dated Monday, May 4th. The stock was purchased at an average cost of C$88.94 per share, for a total transaction of C$2,837,186.00. Following the completion of the purchase, the insider directly owned 2,211,900 shares in the company, valued at approximately C$196,726,386. This represents a 1.46% increase in their ownership of the stock.

Sunil Jagwani also recently made the following trade(s):

• On Monday, May 4th, Sunil Jagwani acquired 32,000 shares of Methanex stock. The shares were bought at an average price of C$88.15 per share, for a total transaction of C$2,820,800.00.

Methanex Stock Performance

Shares of MX traded up C$4.12 during mid-day trading on Monday, hitting C$86.50. The stock had a trading volume of 182,948 shares, compared to its average volume of 337,266. The company has a market cap of C$6.69 billion, a PE ratio of -118.49, a PEG ratio of 0.44 and a beta of 0.65. The company's fifty day simple moving average is C$78.69 and its two-hundred day simple moving average is C$64.80. Methanex Co. has a fifty-two week low of C$43.27 and a fifty-two week high of C$92.97. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 143.44.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last issued its quarterly earnings data on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. The firm had revenue of C$1.28 billion during the quarter. Methanex had a negative net margin of 1.26% and a negative return on equity of 1.84%. On average, equities analysts expect that Methanex Co. will post 5.9482927 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MX. Raymond James Financial downgraded shares of Methanex from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, January 14th. Royal Bank Of Canada lowered Methanex from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 1st. Scotiabank raised their target price on Methanex from C$48.00 to C$60.00 in a research report on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce downgraded Methanex from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$50.00.

About Methanex

Methanex Corp manufactures and sells methanol. Methanex's customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.

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