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

Neo Performance Materials (TSE:NEO) had its price objective increased by BMO Capital Markets from C$30.00 to C$38.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 15.96% from the stock’s current price.

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

Neo Performance Materials Price Performance

Shares of TSE NEO traded up C$0.67 during midday trading on Thursday, hitting C$32.77. The company had a trading volume of 170,595 shares, compared to its average volume of 258,675. 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 firm has a market capitalization of C$1.36 billion, a price-to-earnings ratio of -136.54 and a beta of 1.46. The business has a 50-day simple moving average of C$24.49 and a two-hundred day simple moving average of C$20.63. Neo Performance Materials has a twelve month low of C$9.00 and a twelve month high of C$33.00.

Neo Performance Materials (TSE:NEO) last announced its earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. The company 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%. Equities research analysts anticipate that Neo Performance Materials 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 dated Monday, March 23rd. The shares were sold at an average price of C$22.99, for a total value of C$459,800.00. Following the transaction, the insider directly owned 105,966 shares in the company, valued at approximately C$2,436,158.34. This represents a 15.88% decrease in their position. Company insiders own 22.38% of the company’s stock.

About Neo Performance Materials

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.