Key Points
- Insider buying: Methanex insider Sunil Jagwani purchased 40,000 shares on May 15 at an average price of C$87.11, a C$3.48 million transaction. After the trade, he held 2,485,000 shares, increasing his ownership by 1.64%.
- Recent buying streak: Jagwani has also bought multiple additional blocks of Methanex shares in early May, including purchases of 40,100, 41,000, 31,900, and 32,000 shares. The repeated buying suggests sustained insider confidence in the stock.
- Stock and analyst backdrop: Methanex shares were down 2.2% and traded at C$85.37, near their 52-week high of C$92.97. Analysts currently have a Moderate Buy consensus, though some firms recently downgraded the stock to Hold.
Methanex Co. (TSE:MX - Get Free Report) (NASDAQ:MEOH) insider Sunil Jagwani bought 40,000 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of C$87.11 per share, for a total transaction of C$3,484,400.00. Following the completion of the transaction, the insider owned 2,485,000 shares in the company, valued at C$216,468,350. This trade represents a 1.64% increase in their ownership of the stock.
Sunil Jagwani also recently made the following trade(s):
- On Thursday, May 7th, Sunil Jagwani bought 40,100 shares of Methanex stock. The shares were bought at an average cost of C$84.56 per share, for a total transaction of C$3,390,856.00.
- On Thursday, May 7th, Sunil Jagwani bought 41,000 shares of Methanex stock. The shares were bought at an average cost of C$84.00 per share, for a total transaction of C$3,444,000.00.
- On Monday, May 4th, Sunil Jagwani bought 31,900 shares of Methanex stock. The shares were bought at an average cost of C$88.94 per share, for a total transaction of C$2,837,186.00.
- On Monday, May 4th, Sunil Jagwani bought 32,000 shares of Methanex stock. The shares were bought at an average cost of C$88.15 per share, for a total transaction of C$2,820,800.00.
Methanex Stock Down 2.2%
Shares of MX opened at C$85.37 on Wednesday. The company has a market capitalization of C$6.60 billion, a PE ratio of -116.95, a PEG ratio of 0.44 and a beta of 0.65. Methanex Co. has a 12 month low of C$43.27 and a 12 month high of C$92.97. The stock's 50-day moving average price is C$81.26 and its two-hundred day moving average price is C$66.92. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 143.44.
Methanex (TSE:MX - Get Free Report) (NASDAQ:MEOH) last announced its earnings results on Thursday, March 5th. The company reported C($0.19) EPS for the quarter. The company had revenue of C$1.28 billion for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%. On average, analysts anticipate that Methanex Co. will post 5.9482927 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada downgraded shares of Methanex from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 1st. Scotiabank boosted 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 report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$50.00.
Check Out Our Latest Stock Report on MX
Methanex Company Profile
(
Get Free Report)
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.
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