Methanex (TSE:MX) Reaches New 12-Month High – Time to Buy?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as C$101.06 and last traded at C$100.55, with a volume of 74,361 shares trading hands. The stock had previously closed at C$98.50.

Analysts Set New Price Targets

Separately, Canadian Imperial Bank of Commerce raised shares of 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Methanex has an average rating of “Buy” and an average price target of C$60.00.

Methanex Stock Up 1.9%

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 fifty day simple moving average of C$88.09 and a 200 day simple moving average of C$79.41. The firm has a market capitalization of C$7.76 billion, a P/E ratio of 22.15, a P/E/G ratio of 0.44 and a beta of 0.63.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings results on Thursday, October 29th. The company reported C$5.25 earnings per share for the quarter. The firm had revenue of C$1.98 billion during the quarter. Methanex had a return on equity of 14.07% and a net margin of 7.58%. On average, equities analysts expect that Methanex Co. will post 5.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alejandro Larrive sold 2,000 shares of the 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 approximately C$705,032.27. This represents a 19.98% decrease in their position. Company 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.