Methanex (TSE:MX) Rating Increased to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of Methanex (TSE:MX) (NASDAQ:MEOH) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Royal Bank Of Canada cut Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and a consensus price target of C$60.00.

Methanex Stock Up 4.8%

Shares of MX opened at C$72.18 on Monday. The firm has a market cap of C$5.58 billion, a P/E ratio of -98.88, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The company has a debt-to-equity ratio of 143.44, a quick ratio of 1.59 and a current ratio of 1.96. Methanex has a 52 week low of C$44.57 and a 52 week high of C$92.97. The firm’s 50-day simple moving average is C$78.27 and its 200 day simple moving average is C$73.55.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C$0.42 earnings per share (EPS) for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%.The company had revenue of C$1.35 billion during the quarter. On average, analysts forecast that Methanex will post 5.9482927 earnings per share for the current year.

Insider Transactions at Methanex

In other Methanex news, insider Sunil Jagwani purchased 43,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of C$82.62 per share, for a total transaction of C$3,552,660.00. Following the completion of the transaction, the insider owned 2,571,000 shares in the company, valued at approximately C$212,416,020. This represents a 1.70% increase in their ownership of the stock. Also, insider Sergio Almarza sold 4,500 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of C$86.06, for a total value of C$387,270.00. Following the transaction, the insider owned 11,570 shares in the company, valued at approximately C$995,714.20. This trade represents a 28.00% decrease in their position. Over the last ninety days, insiders have acquired 278,000 shares of company stock valued at $23,636,345 and have sold 13,475 shares valued at $1,175,470. Insiders own 0.35% of the company’s stock.

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.