Methanex (TSE:MX) Reaches New 1-Year High – Should You Buy?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$78.18 and last traded at C$76.75, with a volume of 169228 shares. The stock had previously closed at C$75.90.

Wall Street Analysts Forecast Growth

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

Methanex Trading Up 1.1 %

The stock’s fifty day simple moving average is C$69.53 and its two-hundred day simple moving average is C$62.90. The firm has a market cap of C$5.17 billion, a PE ratio of 26.37, a PEG ratio of 0.44 and a beta of 1.79. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share 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 company had revenue of C$1.28 billion for the quarter, compared to the consensus estimate of C$1.26 billion. On average, sell-side analysts forecast that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

Insider Transactions at Methanex

In related news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$65.39, for a total value 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.