Methanex (TSE:MX) Upgraded at National Bank Financial

Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) was upgraded by equities researchers at National Bank Financial to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Separately, Royal Bank Of Canada lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and an average target price of C$60.00.

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Methanex Stock Performance

TSE MX opened at C$72.18 on Monday. The business’s 50-day moving average price is C$78.27 and its 200 day moving average price is C$73.55. Methanex has a twelve month low of C$44.57 and a twelve month high of C$92.97. The company has a market capitalization of C$5.58 billion, a PE ratio of -98.88, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 143.44.

Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) last issued its quarterly earnings results on Wednesday, April 29th. The company reported C$0.42 earnings per share (EPS) for the quarter. The firm had revenue of C$1.35 billion for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%. On average, research analysts predict that Methanex will post 5.9482927 earnings per share for the current year.

Insider Activity

In related news, insider Sergio Almarza sold 1,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of C$86.24, for a total value of C$86,240.00. Following the transaction, the insider directly owned 16,070 shares of the company’s stock, valued at approximately C$1,385,876.80. This trade represents a 5.86% decrease in their position. Also, insider Kyung Wan (Fred) Lee sold 7,975 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$88.02, for a total value of C$701,959.50. Following the completion of the transaction, the insider directly owned 5,025 shares in the company, valued at C$442,300.50. This trade represents a 61.35% decrease in their ownership of the stock. In the last ninety days, insiders purchased 278,000 shares of company stock valued at $23,636,345 and sold 13,475 shares valued at $1,175,470. Corporate insiders own 0.35% of the company’s stock.

Methanex Company Profile

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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.

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