Neo Performance Materials (TSE:NEO) Hits New 12-Month High – Here’s Why

Neo Performance Materials Inc. (TSE:NEO)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$29.58 and last traded at C$29.39, with a volume of 170220 shares traded. The stock had previously closed at C$29.08.

Wall Street Analyst Weigh In

NEO has been the topic of a number of research analyst reports. BMO Capital Markets set a C$30.00 target price on Neo Performance Materials and gave the stock an “outperform” rating in a research report on Friday, February 20th. Stifel Nicolaus boosted their target price on Neo Performance Materials from C$25.50 to C$26.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$28.00.

Neo Performance Materials Stock Up 1.9%

The company has a debt-to-equity ratio of 27.06, a current ratio of 1.83 and a quick ratio of 1.92. The business has a 50-day moving average of C$24.28 and a 200 day moving average of C$20.34. The company has a market capitalization of C$1.23 billion, a PE ratio of -123.50 and a beta of 1.46.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings data on Thursday, March 19th. The company reported C$0.01 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative return on equity of 2.55% and a negative net margin of 2.13%.The business had revenue of C$157.96 million for the quarter. Equities research analysts predict that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current year.

Insider Transactions at Neo Performance Materials

In other Neo Performance Materials news, insider Kevin Morris sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of C$22.99, for a total transaction of C$459,800.00. Following the sale, the insider directly owned 105,966 shares in the company, valued at C$2,436,158.34. This represents a 15.88% decrease in their ownership of the stock. 22.38% of the stock is currently owned by company insiders.

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.