Methanex (TSE:MX) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Methanex shares moved above their 200-day moving average of C$76.09, reaching C$76.80 before last trading at C$75.52.
• Analyst sentiment improved, with CIBC and National Bank Financial upgrading the stock to “strong buy.” However, the consensus target price is C$60.00, below the recent trading price.
• The company reported quarterly revenue of C$1.35 billion and EPS of C$0.42, while insiders made significant net purchases over the past 90 days despite one insider sale.

Shares of Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$76.09 and traded as high as C$76.80. Methanex shares last traded at C$75.52, with a volume of 153,763 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on MX shares. Canadian Imperial Bank of Commerce upgraded Methanex from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. National Bank Financial upgraded Methanex to a "strong-buy" rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$60.00.

Methanex Trading Up 0.6%

The company has a market cap of C$5.84 billion, a P/E ratio of 85.82, a price-to-earnings-growth ratio of 0.44 and a beta of 0.62. 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 firm's 50-day moving average price is C$74.50 and its 200-day moving average price is C$76.09.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last released its quarterly earnings data on Wednesday, April 29th. The company reported C$0.42 EPS for the quarter. Methanex had a net margin of 2.05% and a return on equity of 3.50%. The company had revenue of C$1.35 billion during the quarter. As a group, equities research analysts expect that Methanex Co. will post 5.9482927 earnings per share for the current fiscal year.

Insider Buying and Selling at Methanex

In related news, insider Sunil Jagwani purchased 745 shares of the business's stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of C$82.36 per share, with a total value of C$61,358.20. Following the completion of the acquisition, the insider directly owned 2,600,200 shares of the company's stock, valued at approximately C$214,152,472. The trade was a 0.03% increase in their ownership of the stock. Also, insider Kyung Wan (Fred) Lee sold 7,975 shares of Methanex stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$88.02, for a total value of C$701,959.50. Following the completion of the transaction, the insider owned 5,025 shares of the company's stock, valued at approximately C$442,300.50. This trade represents a 61.35% decrease in their ownership of the stock. In the last 90 days, insiders have acquired 93,000 shares of company stock worth $7,659,103. Company insiders own 0.35% of the company's stock.

About Methanex

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.

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