Methanex (TSE:MX) Share Price Crosses Below 200-Day Moving Average - Here's What Happened

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH's share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$55.74 and traded as low as C$44.97. Methanex shares last traded at C$45.09, with a volume of 308,325 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on MX. Raymond James Financial set a C$40.00 target price on shares of Methanex and gave the stock an "outperform" rating in a report on Friday, June 13th. Scotiabank set a C$53.00 target price on shares of Methanex and gave the stock an "outperform" rating in a research note on Friday, June 13th. One analyst has rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$46.50.

Methanex Price Performance

The stock's fifty day moving average price is C$46.01 and its 200-day moving average price is C$55.60. The firm has a market cap of C$2.15 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.44 and a beta of 1.79. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53.

Insider Activity

In related news, Director Rich Sumner acquired 1,479 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average price of C$50.65 per share, with a total value of C$74,907.36. Insiders own 0.35% of the company's stock.

About Methanex

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.

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