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, reaching C$83.59 before closing at C$81.56, compared with the C$77.32 average.
• Analyst sentiment is broadly positive: the consensus rating is “Buy”, although the average price target of C$60.00 is below the recent trading price.
• The company reported C$5.50 in quarterly earnings per share and C$1.98 billion in revenue, while insiders recently sold shares and retain only a 0.35% ownership stake.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH's stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$77.32 and traded as high as C$83.59. Methanex shares last traded at C$81.56, with a volume of 156,813 shares trading hands.

Wall Street Analysts Forecast Growth

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

Methanex Stock Performance

The stock has a market capitalization of C$6.31 billion, a PE ratio of 92.68, a PEG ratio of 0.44 and a beta of 0.62. The business's 50 day moving average is C$74.75 and its 200 day moving average is C$77.32. The company has a current ratio of 2.07, a quick ratio of 1.59 and a debt-to-equity ratio of 122.11.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last posted its quarterly earnings data on Tuesday, July 28th. The company reported C$5.50 earnings per share for the quarter. The company had revenue of C$1.98 billion for the quarter. Methanex had a net margin of 2.05% and a return on equity of 3.50%. On average, equities research analysts predict that Methanex Co. will post 5.9482927 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kyung Wan (Fred) Lee sold 7,975 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$88.02, for a total transaction of C$701,959.50. Following the transaction, the insider owned 5,025 shares of the company's stock, valued at approximately C$442,300.50. This represents a 61.35% decrease in their ownership of the stock. Also, Director Alejandro Larrive sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of C$83.92, for a total value of C$167,840.00. Following the completion of the sale, the director owned 10,009 shares in the company, valued at approximately C$839,955.28. The trade was a 16.65% decrease in their ownership of the stock. Corporate insiders own 0.35% of the company's stock.

Methanex Company Profile

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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