Methanex (TSE:MX) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Methanex's stock price has crossed above its 200-day moving average, reaching a high of C$55.61, and last traded at C$54.97 with a volume of 195,901 shares.
• A range of analyst ratings and price targets have been set for Methanex, with prices ranging from C$40.00 to C$53.00, indicating a generally positive outlook with an average target of C$46.50.
• The company announced a quarterly dividend of $0.185 per share, which will pay out to shareholders on September 30th, resulting in an annual yield of approximately 1.3%.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$47.58 and traded as high as C$55.61. Methanex shares last traded at C$54.97, with a volume of 195,901 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Scotiabank set a C$53.00 target price on shares of Methanex and gave the stock an "outperform" rating in a research report on Friday, June 13th. Raymond James Financial set a C$40.00 price objective on shares of Methanex and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Royal Bank Of Canada raised Methanex from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, Methanex currently has an average rating of "Buy" and an average price target of C$46.50.

Methanex Stock Performance

The stock has a market cap of C$4.23 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59. The stock's 50-day moving average is C$48.10 and its 200-day moving average is C$47.29.

Methanex Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.4%. Methanex's dividend payout ratio (DPR) is presently 21.26%.

Insider Buying and Selling

In related news, Director Rich Sumner acquired 1,479 shares of the company's stock in a transaction dated Friday, June 20th. The stock was bought at an average price of C$50.65 per share, with a total value of C$74,907.36. 0.35% of the stock is owned by company insiders.

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.