Methanex (TSE:MX) Reaches New 52-Week Low – Time to Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$49.09 and last traded at C$49.12, with a volume of 84198 shares changing hands. The stock had previously closed at C$50.46.

Analyst Ratings Changes

MX has been the topic of a number of analyst reports. Scotiabank lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Methanex presently has an average rating of “Buy”.

Methanex Trading Down 2.8 %

The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59. The firm has a market capitalization of C$2.34 billion, a PE ratio of 15.42, a PEG ratio of 0.44 and a beta of 1.79. The firm’s fifty day moving average is C$63.03 and its two-hundred day moving average is C$62.20.

Insider Activity

In related news, Senior Officer Kevin Maloney acquired 1,400 shares of the stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of C$53.55 per share, with a total value of C$74,969.02. Also, Director Karine Delbarre bought 1,081 shares of Methanex stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of C$53.07 per share, with a total value of C$57,368.72. 0.35% of the stock is currently owned by corporate insiders.

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.