Methanex (TSE:MX) Hits New 52-Week High – Here’s Why

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price reached a new 52-week high on Thursday . The company traded as high as C$76.14 and last traded at C$76.03, with a volume of 67015 shares changing hands. The stock had previously closed at C$71.89.

Analysts Set New Price Targets

Separately, Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

Methanex Trading Up 6.1 %

The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59. The firm’s 50 day moving average is C$68.80 and its 200 day moving average is C$62.76. The company has a market capitalization of C$5.14 billion, a PE ratio of 26.21, a P/E/G ratio of 0.44 and a beta of 1.79.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.60 by C$1.05. The company had revenue of C$1.28 billion for the quarter, compared to analysts’ expectations of C$1.26 billion. Methanex had a net margin of 4.06% and a return on equity of 10.21%. As a group, equities analysts predict that Methanex Co. will post 5.9482927 EPS for the current year.

Insider Buying and Selling at Methanex

In other news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of Methanex stock in a transaction on Monday, December 16th. The stock was sold at an average price of C$65.39, for a total transaction of C$504,818.52. 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.