Methanex (TSE:MX) Insider Sunil Jagwani Acquires 41,000 Shares

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani bought 41,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was bought at an average price of C$84.00 per share, with a total value of C$3,444,000.00. Following the transaction, the insider directly owned 2,325,000 shares in the company, valued at C$195,300,000. This represents a 1.80% increase in their ownership of the stock.

Sunil Jagwani also recently made the following trade(s):

• On Thursday, May 7th, Sunil Jagwani purchased 40,100 shares of Methanex stock. The shares were bought at an average price of C$84.56 per share, for a total transaction of C$3,390,856.00.
• On Monday, May 4th, Sunil Jagwani purchased 31,900 shares of Methanex stock. The stock was bought at an average cost of C$88.94 per share, with a total value of C$2,837,186.00.
• On Monday, May 4th, Sunil Jagwani acquired 32,000 shares of Methanex stock. The stock was bought at an average price of C$88.15 per share, with a total value of C$2,820,800.00.

Methanex Price Performance

Shares of TSE MX traded up C$4.28 during mid-day trading on Monday, reaching C$86.66. 202,225 shares of the company traded hands, compared to its average volume of 337,535. Methanex Co. has a fifty-two week low of C$43.27 and a fifty-two week high of C$92.97. The company has a debt-to-equity ratio of 143.44, a current ratio of 1.96 and a quick ratio of 1.59. The firm has a market cap of C$6.70 billion, a PE ratio of -118.71, a price-to-earnings-growth ratio of 0.44 and a beta of 0.65. The stock has a fifty day simple moving average of C$78.69 and a 200-day simple moving average of C$64.80.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Thursday, March 5th. The company reported C($0.19) EPS for the quarter. The firm had revenue of C$1.28 billion for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%. Equities research analysts anticipate that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MX shares. Canadian Imperial Bank of Commerce cut Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Raymond James Financial lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Finally, Scotiabank increased their target price on shares of Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and an average price target of C$50.00.

Methanex Company Profile

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.