Methanex (TSE:MX) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Methanex shares crossed above their 200-day moving average, reaching C$84.24 before closing at C$83.19, compared with a 200-day average of C$79.77.
• Analyst sentiment improved after CIBC and National Bank Financial upgraded the stock to “strong buy.” However, the consensus rating remains “Buy” with a C$60.00 price target, below the recent trading price.
• Methanex reported C$5.50 in quarterly EPS on C$1.98 billion in revenue, while an insider recently sold 2,000 shares at an average price of C$88.03.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$79.77 and traded as high as C$84.24. Methanex shares last traded at C$83.19, with a volume of 176,943 shares.

Analyst Ratings Changes

MX has been the topic of a number of research reports. Canadian Imperial Bank of Commerce upgraded shares of Methanex from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. National Bank Financial upgraded shares of Methanex to a "strong-buy" rating in a research 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 company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$60.00.

Methanex Stock Performance

The firm has a market cap of C$6.44 billion, a price-to-earnings ratio of 94.53, a P/E/G ratio of 0.44 and a beta of 0.57. The stock has a 50 day moving average of C$80.86 and a 200 day moving average of C$79.77. The company has a quick ratio of 1.59, a current ratio of 2.07 and a debt-to-equity ratio of 122.11.

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

Insider Buying and Selling at Methanex

In related news, Director Alejandro Larrive sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of C$88.03, for a total transaction of C$176,060.00. Following the sale, the director owned 8,009 shares in the company, valued at approximately C$705,032.27. This trade represents a 19.98% decrease in their position. Company 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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