Methanex (TSE:MX) Rating Increased to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of Methanex (TSE:MX - Free Report) NASDAQ: MEOH from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Barclays cut shares of Methanex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 10th. Tudor Pickering raised shares of Methanex to a "strong-buy" rating in a report on Wednesday, September 11th.

Methanex Price Performance

TSE:MX traded down C$1.44 during trading hours on Tuesday, hitting C$65.34. 22,520 shares of the company's stock traded hands, compared to its average volume of 108,433. The firm has a market cap of C$4.40 billion, a P/E ratio of 22.95, a P/E/G ratio of 0.44 and a beta of 1.79. The company has a quick ratio of 1.59, a current ratio of 1.25 and a debt-to-equity ratio of 131.58. The business's fifty day simple moving average is C$59.94 and its two-hundred day simple moving average is C$62.32. Methanex has a 52 week low of C$49.21 and a 52 week high of C$74.25.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.65 EPS for the quarter, topping the consensus estimate of C$0.60 by C$1.05. The company had revenue of C$1.28 billion during the quarter, compared to analyst estimates of C$1.26 billion. Methanex had a return on equity of 10.21% and a net margin of 4.06%. On average, research analysts anticipate that Methanex will post 5.9482927 earnings per share for the current fiscal year.

Insider Transactions at Methanex

In related news, Director Leslie O'donoghue bought 2,500 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of C$54.75 per share, with a total value of C$136,876.00. Corporate insiders own 0.35% of the company's stock.

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.