Neo Performance Materials (TSE:NEO) Hits New 1-Year High – Still a Buy?

Shares of Neo Performance Materials Inc. (TSE:NEO) reached a new 52-week high on Tuesday . The company traded as high as C$35.00 and last traded at C$31.97, with a volume of 348921 shares changing hands. The stock had previously closed at C$31.13.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Stifel Nicolaus raised their target price on shares of Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Neo Performance Materials currently has a consensus rating of “Buy” and a consensus target price of C$38.00.

Neo Performance Materials Stock Performance

The company has a market capitalization of C$1.44 billion, a P/E ratio of -142.96 and a beta of 1.46. The business has a 50-day moving average of C$26.80 and a 200-day moving average of C$22.16. The company has a debt-to-equity ratio of 41.75, a current ratio of 1.76 and a quick ratio of 1.92.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%.The company had revenue of C$215.44 million during the quarter. On average, sell-side analysts anticipate that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

Insider Buying and Selling at Neo Performance Materials

In other news, insider Kevin Morris sold 20,000 shares of Neo Performance Materials stock in a transaction 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 completion of the sale, the insider directly owned 105,966 shares in the company, valued at approximately C$2,436,158.34. This trade 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.