Methanex (TSE:MX) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$72.66 and traded as low as C$67.35. Methanex shares last traded at C$69.30, with a volume of 301,307 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada downgraded shares of Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and a consensus target price of C$60.00.

Methanex Stock Up 1.8%

The firm has a market cap of C$5.36 billion, a price-to-earnings ratio of -94.93, a PEG ratio of 0.44 and a beta of 0.56. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 143.44. The firm has a fifty day moving average price of C$81.28 and a 200-day moving average price of C$72.66.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Wednesday, April 29th. The company reported C$0.42 EPS for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%.The firm had revenue of C$1.35 billion during the quarter. As a group, sell-side analysts forecast that Methanex Co. will post 5.9482927 EPS for the current year.

Insider Buying and Selling at Methanex

In other news, insider Sergio Almarza sold 1,000 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of C$86.24, for a total transaction of C$86,240.00. Following the transaction, the insider directly owned 16,070 shares in the company, valued at C$1,385,876.80. This represents a 5.86% decrease in their position. Also, insider Sunil Jagwani bought 745 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of C$82.36 per share, for a total transaction of C$61,358.20. Following the completion of the transaction, the insider directly owned 2,600,200 shares of the company’s stock, valued at approximately C$214,152,472. The trade was a 0.03% increase in their position. In the last 90 days, insiders acquired 278,000 shares of company stock worth $23,636,345 and sold 13,475 shares worth $1,175,470. 0.35% of the stock is owned by company insiders.

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.