Methanex (TSE:MX) Sets New 12-Month High - Here's What Happened

Key Points

• 52-week high: Methanex shares rose as high as C$92.97 on Monday and last traded at C$91.53, giving the company a market cap of about C$6.91 billion and 50-/200-day moving averages of C$69.59/C$59.21.
• Analysts are mixed: Raymond James and CIBC recently downgraded the stock to "Hold" while Scotiabank raised its price target to C$60, but the consensus target remains only C$50 with an average rating of "Moderate Buy".
• Recent results and position: Methanex reported C($0.19) EPS for the quarter on C$1.28 billion revenue, carries a high debt-to-equity ratio (143.59), and insiders have recently sold shares (insiders own 0.35%).

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH's share price hit a new 52-week high during trading on Monday . The company traded as high as C$92.97 and last traded at C$91.53, with a volume of 99103 shares. The stock had previously closed at C$90.57.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MX. Raymond James Financial downgraded Methanex from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce downgraded Methanex from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Finally, Scotiabank lifted their price objective on Methanex from C$48.00 to C$60.00 in a research report on Wednesday, January 21st. One equities 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$50.00.

Methanex Stock Down 1.4%

The company has a debt-to-equity ratio of 143.59, a quick ratio of 1.59 and a current ratio of 2.06. The company's 50-day moving average price is C$69.59 and its 200 day moving average price is C$59.21. The stock has a market capitalization of C$6.91 billion, a P/E ratio of 29.98, a P/E/G ratio of 0.44 and a beta of 1.06.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last issued its earnings results 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 return on equity of 3.18% and a net margin of 2.19%. As a group, equities analysts expect that Methanex Co. will post 5.9482927 earnings per share for the current year.

Insider Activity

In related news, insider Mark Allard sold 2,000 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$86.00, for a total transaction of C$172,000.00. Following the completion of the sale, the insider owned 16,604 shares in the company, valued at approximately C$1,427,944. This trade represents a 10.75% decrease in their ownership of the stock. Corporate insiders own 0.35% of the company's stock.

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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