Methanex (TSE:MX) Sets New 12-Month Low – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price reached a new 52-week low on Monday . The company traded as low as C$37.30 and last traded at C$37.86, with a volume of 33147 shares trading hands. The stock had previously closed at C$40.88.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MX shares. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Scotiabank lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Methanex has a consensus rating of “Buy”.

Methanex Price Performance

The firm has a market capitalization of C$2.04 billion, a PE ratio of 13.43, a P/E/G ratio of 0.44 and a beta of 1.79. The company has a fifty day moving average price of C$58.83 and a two-hundred day moving average price of C$61.74. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53.

Insider Activity

In other Methanex news, Senior Officer Kevin Maloney acquired 1,400 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of C$53.55 per share, with a total value of C$74,969.02. Also, Director Karine Delbarre bought 1,081 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of C$53.07 per share, with a total value of C$57,368.72. Corporate insiders own 0.35% of the company’s stock.

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.