Home / Basic Materials / Midday Update: Methanex Corporation (MEOH) Charges Ahead 3.64% on September 22

Midday Update: Methanex Corporation (MEOH) Charges Ahead 3.64% on September 22

Methanex Corporation (MEOH) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on September 22. At the lunch break, shares of MEOH have gained 3.64% to $31.36 after closing the day prior at $30.26. In the first two and a half hours of trading, the stock has gone as high as $31.57 and as low as $30.75. Today’s rise has come with about 279,715 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 $31.33 for 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.

In the past 52 weeks, shares of MEOH have traded as low as $22.73 and as high as $44.95. Technical traders will take note that at $31.36, shares of 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 in Vancouver, BC.

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All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.

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