Methanex (TSE:MX) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$64.29 and traded as high as C$90.17. Methanex shares last traded at C$89.55, with a volume of 236,248 shares.

Analyst Ratings Changes

MX has been the subject of several research reports. Raymond James Financial cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. Royal Bank Of Canada cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Scotiabank boosted their price objective on shares of Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$50.00.

Methanex Price Performance

The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 143.44. The firm’s fifty day moving average price is C$77.98 and its two-hundred day moving average price is C$64.29. The stock has a market capitalization of C$6.93 billion, a PE ratio of -122.67, a PEG ratio of 0.44 and a beta of 0.65.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings data on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. Methanex had a negative net margin of 1.26% and a negative return on equity of 1.84%. The company had revenue of C$1.28 billion for the quarter. On average, equities analysts predict that Methanex Co. will post 5.9482927 earnings per share for the current year.

Insider Transactions at Methanex

In related news, insider Mark Allard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of C$86.00, for a total transaction of C$172,000.00. Following the completion of the sale, the insider directly owned 16,604 shares in the company, valued at approximately C$1,427,944. The trade was a 10.75% decrease in their ownership of the stock. Company insiders own 0.35% of the company’s stock.

Methanex Company Profile

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. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.