Methanex (TSE:MX) Sets New 52-Week Low – Here’s Why

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as C$49.09 and last traded at C$49.12, with a volume of 84198 shares trading hands. The stock had previously closed at C$50.46.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MX. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Scotiabank cut Methanex from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Methanex Trading Down 10.3 %

The company has a quick ratio of 1.59, a current ratio of 1.34 and a debt-to-equity ratio of 148.53. The business’s fifty day moving average is C$62.10 and its 200-day moving average is C$62.16. The stock has a market capitalization of C$2.09 billion, a PE ratio of 13.76, a P/E/G ratio of 0.44 and a beta of 1.79.

Insiders Place Their Bets

In other news, Director Karine Delbarre acquired 1,081 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of C$53.07 per share, for a total transaction of C$57,368.72. Also, Senior Officer Kevin Maloney bought 1,400 shares of Methanex stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of C$53.55 per share, for a total transaction of C$74,969.02. 0.35% of the stock is owned by insiders.

About Methanex

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.