Insider Buying: Methanex (TSE:MX) Insider Acquires 24,255 Shares of Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani acquired 24,255 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average cost of C$82.23 per share, with a total value of C$1,994,488.65. Following the completion of the acquisition, the insider owned 2,595,255 shares in the company, valued at C$213,407,818.65. This trade represents a 0.94% increase in their position.

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

• On Thursday, May 28th, Sunil Jagwani acquired 4,200 shares of Methanex stock. The stock was acquired at an average cost of C$82.34 per share, with a total value of C$345,828.00.
• On Friday, May 29th, Sunil Jagwani acquired 745 shares of Methanex stock. The stock was acquired at an average cost of C$82.36 per share, with a total value of C$61,358.20.
• On Friday, May 29th, Sunil Jagwani acquired 20,800 shares of Methanex stock. The stock was acquired at an average cost of C$81.96 per share, with a total value of C$1,704,768.00.
• On Friday, May 22nd, Sunil Jagwani acquired 43,000 shares of Methanex stock. The stock was acquired at an average cost of C$82.62 per share, with a total value of C$3,552,660.00.
• On Friday, May 15th, Sunil Jagwani acquired 40,000 shares of Methanex stock. The stock was acquired at an average cost of C$87.11 per share, with a total value of C$3,484,400.00.
• On Thursday, May 7th, Sunil Jagwani acquired 40,100 shares of Methanex stock. The stock was acquired at an average cost of C$84.56 per share, with a total value of C$3,390,856.00.
• On Thursday, May 7th, Sunil Jagwani acquired 41,000 shares of Methanex stock. The stock was acquired at an average cost of C$84.00 per share, with a total value of C$3,444,000.00.
• On Monday, May 4th, Sunil Jagwani acquired 31,900 shares of Methanex stock. The stock was acquired at an average cost of C$88.94 per share, with a total value of C$2,837,186.00.
• On Monday, May 4th, Sunil Jagwani acquired 32,000 shares of Methanex stock. The stock was acquired at an average cost of C$88.15 per share, with a total value of C$2,820,800.00.

Methanex Price Performance

TSE:MX traded up C$3.35 during trading hours on Monday, hitting C$84.91. The stock had a trading volume of 181,968 shares, compared to its average volume of 322,673. The company has a 50 day simple moving average of C$82.96 and a two-hundred day simple moving average of C$68.66. The company has a debt-to-equity ratio of 143.44, a current ratio of 1.96 and a quick ratio of 1.59. Methanex Co. has a one year low of C$43.27 and a one year high of C$92.97. The firm has a market capitalization of C$6.57 billion, a price-to-earnings ratio of -116.32, a P/E/G ratio of 0.44 and a beta of 0.65.

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

Wall Street Analyst Weigh In

MX has been the topic of several research reports. Canadian Imperial Bank of Commerce cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Royal Bank Of Canada cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.00.

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