Methanex (TSE:MX) Insider Sells C$701,959.50 in Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) insider Kyung Wan (Fred) Lee sold 7,975 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$88.02, for a total value of C$701,959.50. Following the transaction, the insider directly owned 5,025 shares in the company, valued at approximately C$442,300.50. The trade was a 61.35% decrease in their position.

Methanex Stock Performance

Shares of TSE MX traded down C$2.36 during trading hours on Thursday, reaching C$84.56. The stock had a trading volume of 93,174 shares, compared to its average volume of 318,220. The firm has a 50-day moving average of C$83.54 and a 200-day moving average of C$69.35. The firm has a market cap of C$6.54 billion, a price-to-earnings ratio of -115.84, a PEG ratio of 0.44 and a beta of 0.65. 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 Co. has a fifty-two week low of C$44.57 and a fifty-two week high of C$92.97.

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

Wall Street Analyst Weigh In

MX has been the topic of several recent research reports. Canadian Imperial Bank of Commerce cut Methanex from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Royal Bank Of Canada downgraded Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and an average price target 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.