Methanex Co. (TSE:MX – Get Free Report) (NASDAQ:MEOH)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$79.77 and traded as high as C$84.24. Methanex shares last traded at C$83.19, with a volume of 176,943 shares changing hands.
Analysts Set New Price Targets
MX has been the subject of a number of research reports. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a research note on Monday, July 13th. Canadian Imperial Bank of Commerce upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$60.00.
Check Out Our Latest Analysis on MX
Methanex Stock Performance
Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$5.50 earnings per share for the quarter. The business had revenue of C$1.98 billion during the quarter. Methanex had a return on equity of 3.50% and a net margin of 2.05%. As a group, sell-side analysts forecast that Methanex Co. will post 5.9482927 earnings per share for the current year.
Insider Activity
In other Methanex news, Director Alejandro Larrive sold 2,000 shares of Methanex stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of C$88.03, for a total transaction of C$176,060.00. Following the completion of the transaction, the director directly owned 8,009 shares of the company’s stock, valued at approximately C$705,032.27. This trade represents a 19.98% decrease in their ownership of the stock. Corporate insiders own 0.35% of the company’s stock.
About Methanex
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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