Methanex (TSE:MX) Reaches New 1-Year High – Should You Buy?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) reached a new 52-week high on Monday . The stock traded as high as C$74.00 and last traded at C$70.62, with a volume of 157678 shares changing hands. The stock had previously closed at C$68.82.

Analyst Ratings Changes

MX has been the topic of several research reports. Raymond James Financial cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Scotiabank raised their price target on shares of Methanex from C$48.00 to C$60.00 in a research report on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$50.00.

Methanex Price Performance

The stock’s 50 day moving average is C$63.33 and its two-hundred day moving average is C$55.63. The stock has a market capitalization of C$5.57 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 0.44 and a beta of 1.11. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59.

Methanex Company Profile

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.