Methanex (TSE:MX) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$71.77 and traded as high as C$76.14. Methanex shares last traded at C$75.57, with a volume of 336,577 shares changing hands.

Analyst Ratings Changes

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

Methanex Stock Up 0.7%

The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 143.44. The company has a market capitalization of C$5.85 billion, a price-to-earnings ratio of -103.52, a PEG ratio of 0.44 and a beta of 0.56. The firm’s 50 day simple moving average is C$82.49 and its 200-day simple moving average is C$71.77.

Insider Activity

In other news, insider Sunil Jagwani purchased 745 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of C$82.36 per share, with a total value of C$61,358.20. Following the completion of the acquisition, the insider directly owned 2,600,200 shares of the company’s stock, valued at approximately C$214,152,472. This trade represents a 0.03% increase in their position. Also, insider Sergio Almarza sold 1,000 shares of the firm’s 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 sale, the insider owned 16,070 shares of the company’s stock, valued at approximately C$1,385,876.80. The trade was a 5.86% decrease in their position. Over the last quarter, insiders have bought 278,000 shares of company stock valued at $23,636,345 and have sold 15,475 shares valued at $1,347,470. Insiders own 0.35% of the company’s stock.

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.