NEW YORK ( TheStreet) -- Methanex Corporation (Nasdaq: MEOH) hit a new 52-week high Wednesday as it traded at $31.49 compared with its previous 52-Week high of $31.45. Methanex is changing hands at $31.43 with 121,666 shares traded as of 12 p.m. ET. Average volume has been 421,200 shares over the past 30 days.

Methanex has a market cap of $2.8 billion and is part of the basic materials sector and chemicals industry. Shares are up 1.4% year to date as of the close of trading on Tuesday.

Methanex Corporation produces, markets, and supplies methanol that is used to make a range of industrial, consumer, and energy products. It also sources methanol produced by others. The company has a P/E ratio of 27.9, equal to the average chemicals industry P/E ratio and above the S&P 500 P/E ratio of 16.1.
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TheStreet Ratings rates Methanex as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including poor profit margins and weak operating cash flow. You can view the full Methanex Ratings Report.

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