Methanex (TSE:MX) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$48.60 and traded as high as C$54.38. Methanex shares last traded at C$54.07, with a volume of 128,440 shares trading hands.

Analyst Ratings Changes

MX has been the topic of several research reports. National Bank Financial upgraded shares of Methanex to a “strong-buy” rating in a report on Thursday, September 25th. Royal Bank Of Canada raised shares of Methanex from a “hold” rating to a “moderate buy” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus target price of C$46.50.

Methanex Price Performance

The firm has a market cap of C$4.18 billion, a PE ratio of 18.14, a P/E/G ratio of 0.44 and a beta of 1.28. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59. The business’s fifty day moving average is C$52.33 and its 200-day moving average is C$48.60.

About Methanex

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.