Insider Buying: Methanex Co. (TSE:MX) Director Purchases 1,479 Shares of Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) Director Rich Sumner bought 1,479 shares of the stock in a transaction dated Friday, June 20th. The stock was purchased at an average price of C$50.65 per share, with a total value of C$74,907.36.

Methanex Stock Performance

TSE MX opened at C$47.95 on Tuesday. Methanex Co. has a 52-week low of C$36.10 and a 52-week high of C$78.18. The company has a 50-day simple moving average of C$45.12 and a 200 day simple moving average of C$56.37. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The company has a market capitalization of C$2.29 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79.

Wall Street Analyst Weigh In

MX has been the subject of a number of research analyst reports. Raymond James Financial set a C$40.00 price objective on shares of Methanex and gave the stock an “outperform” rating in a report on Friday, June 13th. Scotiabank set a C$53.00 price objective on shares of Methanex and gave the stock an “outperform” rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Methanex presently has an average rating of “Buy” and an average target price of C$46.50.

About Methanex

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.