Methanex (TSE:MX) Insider Acquires C$3,444,000.00 in Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani acquired 41,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average cost of C$84.00 per share, with a total value of C$3,444,000.00. Following the completion of the acquisition, the insider owned 2,325,000 shares of the company’s stock, valued at C$195,300,000. The trade was a 1.80% increase in their ownership of the stock.

Sunil Jagwani also recently made the following trade(s):

• On Thursday, May 7th, Sunil Jagwani acquired 40,100 shares of Methanex stock. The shares were purchased at an average price of C$84.56 per share, for a total transaction of C$3,390,856.00.
• On Monday, May 4th, Sunil Jagwani bought 31,900 shares of Methanex stock. The shares were purchased at an average cost of C$88.94 per share, for a total transaction of C$2,837,186.00.
• On Monday, May 4th, Sunil Jagwani bought 32,000 shares of Methanex stock. The stock was purchased at an average price of C$88.15 per share, with a total value of C$2,820,800.00.

Methanex Stock Performance

Shares of TSE MX traded up C$4.28 during trading on Monday, reaching C$86.66. The stock had a trading volume of 202,225 shares, compared to its average volume of 337,535. The company has a debt-to-equity ratio of 143.44, a quick ratio of 1.59 and a current ratio of 1.96. The stock has a market cap of C$6.70 billion, a PE ratio of -118.71, a P/E/G ratio of 0.44 and a beta of 0.65. Methanex Co. has a one year low of C$43.27 and a one year high of C$92.97. The firm’s 50 day moving average price is C$78.69 and its two-hundred day moving average price is C$64.80.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada downgraded shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 1st. Scotiabank lifted their target price on Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Raymond James Financial cut Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$50.00.

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.