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

Key Points

• Methanex shares moved above their 200-day moving average of C$75.16, reaching C$77.56 before last trading at C$75.21.
• Analyst sentiment is generally positive, with an average rating of “Buy,” though ratings are mixed and the consensus price target of C$60.00 is below the current share price.
• The company reported C$0.42 in quarterly EPS on C$1.35 billion in revenue, while maintaining negative net margins and return on equity. Insiders have been net buyers over the past 90 days, purchasing 278,000 shares versus 13,475 sold.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$75.16 and traded as high as C$77.56. Methanex shares last traded at C$75.21, with a volume of 349,434 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MX shares. National Bank Financial raised Methanex to a "strong-buy" rating in a research report on Monday, July 13th. Canadian Imperial Bank of Commerce upgraded Methanex from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada lowered shares of Methanex from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$60.00.

Methanex Trading Down 1.8%

The firm has a market capitalization of C$5.82 billion, a PE ratio of -103.03, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The stock's 50-day moving average price is C$76.31 and its 200 day moving average price is C$75.16. The company has a debt-to-equity ratio of 143.44, a current ratio of 1.96 and a quick ratio of 1.59.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last posted its quarterly earnings results on Wednesday, April 29th. The company reported C$0.42 earnings per share for the quarter. The firm had revenue of C$1.35 billion during the quarter. Methanex had a negative net margin of 1.26% and a negative return on equity of 1.84%. On average, sell-side analysts expect that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sunil Jagwani bought 43,000 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of C$82.62 per share, for a total transaction of C$3,552,660.00. Following the acquisition, the insider owned 2,571,000 shares of the company's stock, valued at C$212,416,020. This represents a 1.70% increase in their ownership of the stock. Also, insider Sergio Almarza sold 4,500 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of C$86.06, for a total value of C$387,270.00. Following the transaction, the insider directly owned 11,570 shares in the company, valued at C$995,714.20. The trade was a 28.00% decrease in their position. In the last ninety days, insiders have bought 278,000 shares of company stock worth $23,636,345 and have sold 13,475 shares worth $1,175,470. 0.35% of the stock is currently owned by company insiders.

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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