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

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$55.17 and traded as high as C$68.08. Methanex shares last traded at C$66.72, with a volume of 98,405 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on MX shares. Canadian Imperial Bank of Commerce downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Raymond James Financial cut Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Finally, Scotiabank raised their target price on Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$50.00.

Methanex Stock Down 0.1%

The firm’s fifty day moving average is C$62.52 and its 200-day moving average is C$55.17. The company has a market capitalization of C$5.16 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 0.44 and a beta of 1.11. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34.

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.