Sunil Jagwani Buys 43,000 Shares of Methanex (TSE:MX) Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Sunil Jagwani bought 43,000 shares of Methanex stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of C$82.62 per share, for a total transaction of C$3,552,660.00. Following the completion of the purchase, the insider directly owned 2,571,000 shares of the company’s stock, valued at C$212,416,020. This trade represents a 1.70% increase in their ownership of the stock.

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

• On Friday, May 15th, Sunil Jagwani bought 40,000 shares of Methanex stock. The shares were purchased at an average cost of C$87.11 per share, for a total transaction of C$3,484,400.00.
• On Thursday, May 7th, Sunil Jagwani bought 40,100 shares of Methanex stock. The shares were purchased at an average cost of C$84.56 per share, for a total transaction of C$3,390,856.00.
• On Thursday, May 7th, Sunil Jagwani bought 41,000 shares of Methanex stock. The shares were purchased at an average cost of C$84.00 per share, for a total transaction of C$3,444,000.00.
• On Monday, May 4th, Sunil Jagwani bought 31,900 shares of Methanex stock. The shares were purchased at an average cost of C$88.94 per share, for a total transaction 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 Trading Up 0.8%

Shares of MX traded up C$0.69 during trading on Tuesday, reaching C$82.92. 150,176 shares of the company traded hands, compared to its average volume of 327,082. Methanex Co. has a twelve month low of C$43.27 and a twelve month high of C$92.97. The stock has a market cap of C$6.42 billion, a PE ratio of -113.59, a price-to-earnings-growth ratio of 0.44 and a beta of 0.65. The stock has a 50-day simple moving average of C$82.03 and a 200-day simple moving average of C$67.80. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 143.44.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on MX shares. Royal Bank Of Canada cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Canadian Imperial Bank of Commerce cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Methanex has an average rating of “Moderate Buy” and a consensus 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.