Sunil Jagwani Purchases 40,000 Shares of Methanex (TSE:MX) Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani bought 40,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average price of C$87.11 per share, with a total value of C$3,484,400.00. Following the completion of the purchase, the insider owned 2,485,000 shares of the company’s stock, valued at C$216,468,350. This trade represents a 1.64% increase in their ownership of the stock.

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

• On Thursday, May 7th, Sunil Jagwani acquired 40,100 shares of Methanex stock. The shares were acquired at an average price of C$84.56 per share, with a total value of C$3,390,856.00.
• On Thursday, May 7th, Sunil Jagwani acquired 41,000 shares of Methanex stock. The shares were acquired at an average price of C$84.00 per share, with a total value of C$3,444,000.00.
• On Monday, May 4th, Sunil Jagwani acquired 31,900 shares of Methanex stock. The shares were acquired at an average price of C$88.94 per share, with a total value of C$2,837,186.00.
• On Monday, May 4th, Sunil Jagwani bought 32,000 shares of Methanex stock. The shares were purchased at an average cost of C$88.15 per share, for a total transaction of C$2,820,800.00.

Methanex Price Performance

TSE:MX traded down C$1.28 during midday trading on Tuesday, hitting C$86.01. 141,084 shares of the stock were exchanged, compared to its average volume of 330,844. Methanex Co. has a one year low of C$43.27 and a one year high of C$92.97. The company has a market capitalization of C$6.65 billion, a price-to-earnings ratio of -117.82, a P/E/G ratio of 0.44 and a beta of 0.65. The business has a 50-day moving average price of C$80.90 and a two-hundred day moving average price of C$66.65. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 143.44.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Thursday, March 5th. The company reported C($0.19) 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$1.28 billion for the quarter. Sell-side analysts predict that Methanex Co. will post 5.9482927 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MX shares. Canadian Imperial Bank of Commerce cut Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Royal Bank Of Canada cut Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Finally, Scotiabank upped their price target on Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and an average target price 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.