Methanex (TSE:MX) Shares Cross Above 200-Day Moving Average – Time to Sell?

Posted by Erica Schwartz on Jan 3rd, 2025

Methanex Co. (TSE:MX – Get Free Report) (NASDAQ:MEOH)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.04 and traded as high as C$72.00. Methanex shares last traded at C$71.83, with a volume of 90,554 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MX. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Barclays cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Tudor Pickering raised Methanex to a “strong-buy” rating in a report on Wednesday, September 11th.

Read Our Latest Research Report on MX

Methanex Price Performance

The firm has a market capitalization of C$4.81 billion, a P/E ratio of 24.54, a P/E/G ratio of 0.44 and a beta of 1.79. The company has a current ratio of 1.25, a quick ratio of 1.59 and a debt-to-equity ratio of 131.58. The business’s fifty day moving average is C$63.39 and its 200 day moving average is C$62.05.

Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) last released its earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share for the quarter, topping the consensus estimate of C$0.60 by C$1.05. Methanex had a net margin of 4.06% and a return on equity of 10.21%. The business had revenue of C$1.28 billion for the quarter, compared to the consensus estimate of C$1.26 billion. As a group, analysts forecast that Methanex Co. will post 5.9482927 EPS for the current year.

Insider Transactions at Methanex

In related news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$65.39, for a total value of C$504,818.52. 0.35% of the stock is currently owned by insiders.

Methanex Company Profile

(Get Free Report)

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.