Methanex (TSE:MX) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Methanex shares recently surpassed their 200-day moving average of C$47.27, with the stock trading as high as C$54.60 and last at C$53.48.
• The company has received upgraded ratings from analysts, including a shift from "hold" to "moderate buy" by Royal Bank Of Canada, reflecting positive investment sentiment.
• Methanex declared a quarterly dividend of $0.185 per share, representing an annualized yield of 1.4% while maintaining a payout ratio of 21.26%.

Shares of Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$47.27 and traded as high as C$54.60. Methanex shares last traded at C$53.48, with a volume of 733,840 shares trading hands.

Analysts Set New Price Targets

MX has been the subject of a number of analyst reports. Royal Bank Of Canada upgraded Methanex from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Raymond James Financial set a C$40.00 price objective on Methanex and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, Scotiabank set a C$53.00 price objective on Methanex and gave the company an "outperform" rating in a research report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, Methanex presently has a consensus rating of "Buy" and a consensus price target of C$46.50.

Methanex Stock Performance

The company has a market capitalization of C$4.14 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.44 and a beta of 1.24. The stock has a 50-day moving average price of C$48.55 and a 200-day moving average price of C$47.27. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59.

Methanex Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.4%. Methanex's payout ratio is currently 21.26%.

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.

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