Methanex (TSE:MX) Reaches New 1-Year Low – Here’s What Happened

Methanex Co. (TSE:MX) (NASDAQ:MEOH) shares hit a new 52-week low during trading on Monday . The company traded as low as C$37.30 and last traded at C$37.86, with a volume of 33147 shares traded. The stock had previously closed at C$40.88.

Wall Street Analysts Forecast Growth

A number of research firms recently 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 downgraded Methanex from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Methanex Trading Down 4.5 %

The firm’s 50 day moving average price is C$60.87 and its 200-day moving average price is C$62.13. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59. The stock has a market cap of C$1.86 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.44 and a beta of 1.79.

Insider Buying and Selling

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