Methanex (TSE:MX) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Methanex (TSE:MX) (NASDAQ:MEOH) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

MX has been the topic of several other reports. Royal Bank Of Canada cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Methanex has a consensus rating of “Buy” and a consensus price target of C$60.00.

Methanex Price Performance

MX stock opened at C$79.49 on Monday. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 143.44. Methanex has a 52-week low of C$44.57 and a 52-week high of C$92.97. The stock’s 50 day moving average is C$76.98 and its two-hundred day moving average is C$74.64. The company has a market capitalization of C$6.15 billion, a PE ratio of -108.89, a P/E/G ratio of 0.44 and a beta of 0.63.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Wednesday, April 29th. The company reported C$0.42 earnings per share (EPS) for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%.The company had revenue of C$1.35 billion for the quarter. Analysts predict that Methanex will post 5.9482927 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kyung Wan (Fred) Lee sold 7,975 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of C$88.02, for a total value of C$701,959.50. Following the transaction, the insider directly owned 5,025 shares in the company, valued at approximately C$442,300.50. This trade represents a 61.35% decrease in their position. Also, insider Sergio Almarza sold 1,000 shares of Methanex 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 completion of the transaction, the insider directly owned 16,070 shares of the company’s stock, valued at C$1,385,876.80. This trade represents a 5.86% decrease in their ownership of the stock. Over the last three months, insiders have acquired 278,000 shares of company stock valued at $23,636,345 and have sold 13,475 shares valued at $1,175,470. 0.35% of the stock is owned by corporate 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.