Methanex (TSE:MX) Reaches New 12-Month High - Still a Buy?

Key Points

• Methanex hit a new 52‑week high of C$80.67, trading up about 9.1% and well above its 50‑day (C$68.08) and 200‑day (C$58.37) moving averages.
• Analyst sentiment has softened with several downgrades to "Hold"; the consensus is a "Moderate Buy" but the average analyst price target is just C$50, far below the current share price.
• Recent fundamentals show a quarterly EPS of C($0.19), low profitability (net margin 2.19%, ROE 3.18%) and a high debt‑to‑equity ratio (143.59), indicating limited earnings power and elevated leverage.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH hit a new 52-week high during trading on Tuesday . The company traded as high as C$80.67 and last traded at C$80.67, with a volume of 307965 shares. The stock had previously closed at C$74.00.

Analyst Ratings Changes

Several research firms have weighed in on MX. Canadian Imperial Bank of Commerce cut Methanex from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Scotiabank raised their price target on shares of Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. Finally, Raymond James Financial downgraded shares of Methanex from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two 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.

Methanex Trading Up 9.1%

The firm has a market capitalization of C$6.25 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 0.44 and a beta of 1.06. The company has a debt-to-equity ratio of 143.59, a current ratio of 2.06 and a quick ratio of 1.59. The company has a fifty day moving average of C$68.08 and a 200-day moving average of C$58.37.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last issued its earnings results on Thursday, March 5th. The company reported C($0.19) EPS for the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. The firm had revenue of C$1.28 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.

Methanex Company Profile

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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