Shares of Methanex Co. (TSE:MX – Get Free Report) (NASDAQ:MEOH) shot up 13.9% during mid-day trading on Friday. The company traded as high as C$100.00 and last traded at C$100.00. Approximately 323,810 shares were traded during trading, an increase of 13% from the average session volume of 287,237 shares. The stock had previously closed at C$87.77.
Analysts Set New Price Targets
MX has been the topic of a number of research reports. Canadian Imperial Bank of Commerce upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. National Bank Financial raised Methanex to a “strong-buy” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$60.00.
Read Our Latest Research Report on MX
Methanex Stock Up 13.8%
The company has a quick ratio of 1.59, a current ratio of 1.69 and a debt-to-equity ratio of 110.67. The company has a market capitalization of C$7.72 billion, a price-to-earnings ratio of 113.47, a P/E/G ratio of 0.44 and a beta of 0.66. The stock’s fifty day moving average price is C$85.86 and its 200-day moving average price is C$78.22.
Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) last announced its earnings results on Thursday, October 29th. The company reported C$5.25 EPS for the quarter. The business had revenue of C$1.98 billion during the quarter. Methanex had a net margin of 7.58% and a return on equity of 14.07%. On average, sell-side analysts predict that Methanex Co. will post 5.95 earnings per share for the current fiscal year.
Insider Transactions at Methanex
In other Methanex news, Director Alejandro Larrive sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of C$88.03, for a total transaction of C$176,060.00. Following the sale, the director directly owned 8,009 shares of the company’s stock, valued at C$705,032.27. The trade was a 19.98% decrease in their position. Insiders own 0.35% of the company’s stock.
Methanex Company Profile
Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol ‘MX’ and on the Nasdaq Global Select Market in the United States under the trading symbol ‘MEOH’. Methanex can be visited online at www.methanex.com.
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