Methanex (TSE:MX) Upgraded at Cibc World Mkts

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

Several other analysts also recently commented on the stock. Barclays downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 10th. Tudor Pickering upgraded shares of Methanex to a “strong-buy” rating in a research note on Wednesday, September 11th.

Methanex Stock Performance

Shares of MX opened at C$65.32 on Tuesday. The firm has a market capitalization of C$4.40 billion, a P/E ratio of 22.45, a P/E/G ratio of 0.44 and a beta of 1.79. Methanex has a 52 week low of C$49.21 and a 52 week high of C$74.25. The stock has a 50 day moving average price of C$59.94 and a two-hundred day moving average price of C$62.32. The company has a debt-to-equity ratio of 131.58, a quick ratio of 1.59 and a current ratio of 1.25.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.60 by C$1.05. The business had revenue of C$1.28 billion during the quarter, compared to the consensus estimate of C$1.26 billion. Methanex had a return on equity of 10.21% and a net margin of 4.06%. Equities analysts forecast that Methanex will post 5.9482927 earnings per share for the current fiscal year.

Insider Buying and Selling at Methanex

In other news, Director Leslie O’donoghue bought 2,500 shares of the stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of C$54.75 per share, for a total transaction 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.