Key Points
- Insider buying continued at Methanex: Insider Sunil Jagwani purchased 43,000 shares on May 22 at an average price of C$82.62, a transaction worth C$3.55 million.
- Jagwani has been buying repeatedly: The article notes several earlier May purchases, including 40,000 shares on May 15 and multiple buys on May 4 and May 7, indicating a steady pattern of insider accumulation.
- Methanex shares were up modestly: The stock opened at C$83.12 and had risen 1.1%, while analysts currently rate it a “Moderate Buy” with an average price target of C$50.00.
Methanex Co. (TSE:MX - Get Free Report) (NASDAQ:MEOH) insider Sunil Jagwani bought 43,000 shares of the company's stock in a transaction on Friday, May 22nd. The stock was bought at an average price of C$82.62 per share, for a total transaction of C$3,552,660.00. Following the completion of the purchase, the insider owned 2,571,000 shares of the company's stock, valued at approximately C$212,416,020. The trade was a 1.70% increase in their ownership of the stock.
Sunil Jagwani also recently made the following trade(s):
- On Friday, May 15th, Sunil Jagwani bought 40,000 shares of Methanex stock. The stock was bought at an average price of C$87.11 per share, for a total transaction of C$3,484,400.00.
- On Thursday, May 7th, Sunil Jagwani bought 40,100 shares of Methanex stock. The stock was bought at an average price of C$84.56 per share, for a total transaction of C$3,390,856.00.
- On Thursday, May 7th, Sunil Jagwani purchased 41,000 shares of Methanex stock. The shares were purchased 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 purchased 31,900 shares of Methanex stock. The shares were purchased 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 purchased 32,000 shares of Methanex stock. The shares were purchased at an average cost of C$88.15 per share, for a total transaction of C$2,820,800.00.
Methanex Stock Up 1.1%
Shares of TSE MX opened at C$83.12 on Wednesday. Methanex Co. has a one year low of C$43.27 and a one year high of C$92.97. The company has a debt-to-equity ratio of 143.44, a current ratio of 1.96 and a quick ratio of 1.59. The business's fifty day moving average price is C$82.27 and its 200-day moving average price is C$68.02. The stock has a market capitalization of C$6.43 billion, a PE ratio of -113.86, a P/E/G ratio of 0.44 and a beta of 0.65.
Methanex (TSE:MX - Get Free Report) (NASDAQ:MEOH) last issued its quarterly earnings results on Thursday, March 5th. The company reported C($0.19) EPS for the quarter. Methanex had a negative net margin of 1.26% and a negative return on equity of 1.84%. The firm had revenue of C$1.28 billion for the quarter. On average, equities research analysts anticipate that Methanex Co. will post 5.9482927 EPS for the current year.
Wall Street Analyst Weigh In
MX has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce cut shares of Methanex from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Royal Bank Of Canada cut shares of Methanex from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$50.00.
Read Our Latest Stock Report on Methanex
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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