Methanex (TSE:MX) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$62.84 and traded as low as C$59.50. Methanex shares last traded at C$60.05, with a volume of 88,826 shares.

Analysts Set New Price Targets

MX has been the subject of a number of analyst reports. Piper Sandler raised Methanex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Tudor Pickering raised Methanex to a “strong-buy” rating in a research note on Wednesday, September 11th. Finally, Barclays cut Methanex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 10th.

Methanex Trading Down 0.3 %

The company has a market capitalization of C$4.05 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The business has a fifty day moving average price of C$56.06 and a 200 day moving average price of C$62.82. The company has a quick ratio of 1.59, a current ratio of 1.25 and a debt-to-equity ratio of 131.58.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.60 by C$1.05. Methanex had a return on equity of 10.21% and a net margin of 4.06%. The business had revenue of C$1.28 billion for the quarter, compared to analyst estimates of C$1.26 billion. On average, analysts expect that Methanex Co. will post 5.9482927 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Methanex news, Director Dean Richardson acquired 1,500 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of C$50.52 per share, for a total transaction of C$75,780.00. Also, Director Leslie O’donoghue acquired 2,500 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was acquired at an average price of C$54.75 per share, for a total transaction of C$136,876.00. Over the last quarter, insiders have purchased 4,953 shares of company stock worth $262,064. Corporate insiders own 0.35% of the company’s stock.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.