NEW YORK ( TheStreet) -- Methanex Corporation (Nasdaq: MEOH) hit a new 52-week high Thursday as it is currently trading at $34.23, above its previous 52-week high of $33.99 with 45,833 shares traded as of 9:56 a.m. ET. Average volume has been 326,100 shares over the past 30 days.

Methanex has a market cap of $3.1 billion and is part of the basic materials sector and chemicals industry. Shares are up 10.6% year to date as of the close of trading on Wednesday.

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 30.9, equal to the average chemicals industry P/E ratio and above the S&P 500 P/E ratio of 16.9.
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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, growth in earnings per share, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Methanex Ratings Report.

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