Methanex (TSE:MX) Hits New 52-Week High – Time to Buy?

Shares of Methanex Co. (TSE:MX) (NASDAQ:MEOH) reached a new 52-week high during trading on Thursday . The company traded as high as C$76.14 and last traded at C$76.03, with a volume of 67015 shares trading hands. The stock had previously closed at C$71.89.

Analysts Set New Price Targets

Separately, Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

Methanex Stock Performance

The company has a debt-to-equity ratio of 131.58, a quick ratio of 1.59 and a current ratio of 1.25. The stock has a market capitalization of C$5.11 billion, a PE ratio of 26.04, a P/E/G ratio of 0.44 and a beta of 1.79. The firm’s 50 day moving average is C$69.06 and its two-hundred day moving average is C$62.81.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$1.65 EPS for the quarter, beating analysts’ consensus estimates of C$0.60 by C$1.05. The company had revenue of C$1.28 billion for the quarter, compared to the consensus estimate of C$1.26 billion. Methanex had a net margin of 4.06% and a return on equity of 10.21%. As a group, research analysts predict that Methanex Co. will post 5.9482927 earnings per share for the current year.

Insider Buying and Selling

In other Methanex news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the company’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 transaction of C$504,818.52. 0.35% of the stock is currently owned by company 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.