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Methanex Corporation (MX.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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47.35-1.13 (-2.33%)
At close: 4:00PM EDT
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  • J
    Joseph
    Investors were looking for some action on the return or at least a comment on return of the dividend.
    Hence, down 9% on pretty good methanol pricing. Folks just impatient. Board could have returned some cash given the rosy outlook stated. Why the cash hoard?
  • A
    A different J
    I consider that earnings report positive. Some gas supply issues of course. No surprises there.
    Been nice talking to you Freddie. They could use your help over at the Palantir board.
  • A
    A different J
    Funny how stocks often react the same way.
  • S
    Steven
    Methanex will trade sideways until earnings release. Time to be patient.
  • S
    Steven
    MX needs to close above 50d MA tomorrow.
  • A
    A different J
    Aside from business fundamentals, from a chart point of view close up this looks somewhat messy but zoom out a touch.
    I initially sold when we dropped out of a bear flag after the recent high. We are under quite a number of indicators (MAs for example)
    Zoomed back on a weekly time frame though we appear to be in the process of building a large multi month pennant formation. It appears to be holding the trendlines for now. The ultimate point of convergence in this is 5-6 weeks away. Pressure is building to break one way or the other. For the time being my bet is that it will break to the positive.
    I hesitate to call this a "bull" pennant but my belief is that this has a higher probability of occurring than a collapse.
  • A
    A different J
    Where are you Freddie?
  • S
    Steven
    MX hitting support level. Hope it holds until ER
  • S
    SteveD
    opinions of how the US Gov Methane vote impacts MX, if any?
  • F
    Freddie
    OMG! "D-day" is coming!
  • A
    A different J
    This has been constructive the last few days but I will feel much better if we close above 51cad at the end of the week.
  • F
    Freddie
    Thanks folks, do I hear an appluase for calling this right? Down 10% and likely to tumble further. Would expect insider are selling what they can now, bailing out before sub $15 returns. Poor leadership. Need the Board to wake up from their deep sleep and do something. Sack the CEO! Sack the "leadership team' and cull 50% of non-manufacturing headcount. Shutdown old plants that dont have a cost benefit to decarbonize. Exit low value markets. Time to wield the axe.
  • F
    Freddie
    The end is near!
  • F
    Freddie
    The END is coming!
  • F
    Freddie
    Another 2% drop. Next week will se at least a 10% further decline, after the news that a competitor restarted their two Trinidad plant. One analyst asked why was a competitor able to get a fair NG outcome, while Methanex has not? A pithy reply from the CEO. Weak leadership team. The Trinidad Government does not have to now concede anything to Methanex since the restart of two plants and the new producer there also now running well. The earnings call was a debacle. Stock will fall sharply on Monday.
  • F
    Freddie
    ANY money invested in Methanex is dead money. Its a dinosaur waiting for extinction. Poorly led at the top and a huge number of 'Directors, Presidents, Vice Presidents", reminds me of Venezeula regime. Evryone with a big title and doing little. Time to cull 50% of the bloated headcount.
  • C
    Carmen
    Methanol prices have peaked unless something really unexpected happens with crude and coal. This quarter and next will be a good benchmark for MEOH post Covid. No upside on production or feedstock costs so this is as good as it gets for them in the near term.
  • R
    Ranger56
    https://www.echemi.com/cms/136474.html
    This source indicates Methanol prices are expected to rise in 2021
  • A
    A different J
    Previous post deleted.
    Methanex website, investor relations, bottom of page, methanol prices. They are the same as last month which is higher than the previous month. Look for yourself.
  • A
    A different J
    Nice little rising wedge happening. Wouldn't be surprised to see a touchback to 50ish soon. We just need to watch for the breakout up or down. Pressure is building.