Insider Selling: Methanex (TSE:MX) Insider Sells C$172,000.00 in Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Mark Allard sold 2,000 shares of the business’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$86.00, for a total value of C$172,000.00. Following the transaction, the insider owned 16,604 shares in the company, valued at approximately C$1,427,944. This represents a 10.75% decrease in their position.

Methanex Price Performance

TSE MX opened at C$90.57 on Monday. The company has a quick ratio of 1.59, a current ratio of 2.06 and a debt-to-equity ratio of 143.59. Methanex Co. has a fifty-two week low of C$36.10 and a fifty-two week high of C$90.91. The business has a 50 day moving average price of C$69.59 and a two-hundred day moving average price of C$59.21. The stock has a market cap of C$7.00 billion, a PE ratio of 30.39, a P/E/G ratio of 0.44 and a beta of 1.06.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings results on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. The firm had revenue of C$1.28 billion for the quarter. As a group, sell-side analysts predict that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on MX. Raymond James Financial downgraded Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. Scotiabank increased their target price on Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.00.

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. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.