Methanex (TSE:MX) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$48.18 and traded as high as C$51.75. Methanex shares last traded at C$50.65, with a volume of 299,022 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. National Bank Financial upgraded shares of Methanex to a “strong-buy” rating in a report on Thursday, September 25th. Royal Bank Of Canada upgraded Methanex from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, Methanex presently has a consensus rating of “Strong Buy” and an average target price of C$46.50.

Methanex Stock Performance

The company has a market cap of C$3.92 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 0.44 and a beta of 1.28. 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 stock’s 50-day moving average price is C$51.92 and its 200 day moving average price is C$48.18.

About Methanex

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel.