Methanex Corporation (MEOH” target=”_new”>MEOH) is one of the best performing stocks in the basic materials sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on September 22. Shares of MEOH” target=”_new”>MEOH have climbed 3.01% about 30 minutes into the session to $31.17 after closing the day prior at $30.26. It’s early, but the stock has traded as high as $31.33 and as low as $30.75 so far. Today’s quick advance has come with about 19,864 shares changing hands, compared to an average 30-day volume of 813,600 for Methanex Corporation. The price is currently below the 30-day volume weighted average price of $31.0 for MEOH” target=”_new”>MEOH.
The share appreciation gives the company a market capitalization of $2.72 billion based upon 89.81 million shares outstanding. It also means that MEOH has a price-to-book ratio of 1.64:1 and a price-to-earnings ratio of 38.1:1.
In the past 52 weeks, shares of MEOH” target=”_new”>MEOH have traded as low as $22.73 and as high as $44.95. Technical traders will take note that at $31.17, shares of MEOH” target=”_new”>MEOH are trading above their 200-day MA at $30.11 and above their 50-day MA at $28.95. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is MEOH?
Methanex Corp is engaged in the production and distribution of methanol, a chemical that is used to make a range of industrial, consumer and energy products. The company’s 1295 employees are led by CEO John Floren from the corporate headquarters at 200 Burrard Street.
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