Methanex (TSE:MX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$63.12 and traded as high as C$63.97. Methanex shares last traded at C$63.34, with a volume of 168,105 shares trading hands.

Analyst Upgrades and Downgrades

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

Methanex Stock Performance

The firm has a market cap of C$3.00 billion, a P/E ratio of 19.81, a P/E/G ratio of 0.44 and a beta of 1.79. The company has a quick ratio of 1.59, a current ratio of 1.34 and a debt-to-equity ratio of 148.53. The business has a fifty day simple moving average of C$69.93 and a 200-day simple moving average of C$63.12.

Insider Activity

In related news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$65.39, for a total value of C$504,818.52. Company insiders own 0.35% of the company’s stock.

Methanex Company Profile

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.