NEW YORK (

TheStreet

) --

Methanex Corporation

(Nasdaq:

MEOH

) hit a new 52-week high Friday as it is currently trading at $34.95, above its previous 52-week high of $34.90 with 343,683 shares traded as of 2:40 p.m. ET. Average volume has been 351,100 shares over the past 30 days.

Methanex has a market cap of $3.02 billion and is part of the

basic materials

sector and

chemicals

industry. Shares are up 49.1% year to date as of the close of trading on Thursday.

Methanex Corporation, together with its subsidiaries, engages in the production, marketing, and sale of methanol. The company also purchases and re-sells methanol produced by others. The company has a P/E ratio of 15.7, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Methanex as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full

Methanex Ratings Report

.

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