Methanex (TSE:MX) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH's stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$62.84 and traded as low as C$59.50. Methanex shares last traded at C$60.05, with a volume of 88,826 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on MX shares. Piper Sandler upgraded Methanex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Barclays downgraded shares of Methanex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 10th. Finally, Tudor Pickering raised shares of Methanex to a "strong-buy" rating in a research report on Wednesday, September 11th.

Methanex Stock Down 0.3 %

The company's 50-day moving average price is C$56.06 and its 200 day moving average price is C$62.82. 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 cap of C$4.05 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79.

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

Insiders Place Their Bets

In other news, Senior Officer Kevin Price acquired 500 shares of Methanex stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of C$50.69 per share, with a total value of C$25,347.00. Also, Director Leslie O'donoghue bought 2,500 shares of the company's stock in a transaction on Tuesday, September 24th. The shares were acquired at an average price of C$54.75 per share, with a total value of C$136,876.00. In the last 90 days, insiders have bought 4,953 shares of company stock worth $262,064. Company 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.