Neo Performance Materials (TSE:NEO) Price Target Raised to C$38.00

Neo Performance Materials (TSE:NEO) had its target price hoisted by investment analysts at BMO Capital Markets from C$30.00 to C$38.00 in a report released on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 15.96% from the company’s current price.

Separately, Stifel Nicolaus upped their price target on shares of Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$38.00.

Neo Performance Materials Trading Up 2.1%

Shares of TSE:NEO traded up C$0.67 during trading on Thursday, reaching C$32.77. The stock had a trading volume of 170,595 shares, compared to its average volume of 258,675. The business has a fifty day moving average price of C$24.49 and a 200-day moving average price of C$20.63. The company has a quick ratio of 1.92, a current ratio of 1.83 and a debt-to-equity ratio of 27.06. The stock has a market cap of C$1.36 billion, a P/E ratio of -136.54 and a beta of 1.46. Neo Performance Materials has a fifty-two week low of C$9.00 and a fifty-two week high of C$33.00.

Neo Performance Materials (TSE:NEO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$215.44 million during the quarter. Neo Performance Materials had a negative net margin of 2.13% and a negative return on equity of 2.55%. As a group, analysts anticipate that Neo Performance Materials will post 0.6753356 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kevin Morris sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of C$22.99, for a total transaction of C$459,800.00. Following the completion of the transaction, the insider owned 105,966 shares of the company’s stock, valued at approximately C$2,436,158.34. This represents a 15.88% decrease in their ownership of the stock. Company insiders own 22.38% of the company’s stock.

Neo Performance Materials Company Profile

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.