Methanex Corporation (Nasdaq:MEOH) is trading at unusually high volume Thursday with 988,302 shares changing hands. It is currently at 4.2 times its average daily volume and trading up 82 cents (+3.4%).
NEW YORK ( TheStreet) -- Methanex Corporation (Nasdaq: MEOH) is trading at unusually high volume Thursday with 988,302 shares changing hands. It is currently at 4.2 times its average daily volume and trading up 82 cents (+3.4%) at $24.76 as of 3:51 p.m. ET. Methanex has a market cap of $2.3 billion and is part of the basic materials sector and chemicals industry. Shares are down 21.3% year to date as of the close of trading on Wednesday. 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 16.9, below the average chemicals industry P/E ratio of 17 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Methanex as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Methanex Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.