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

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

Wall Street Analysts Forecast Growth

NEO has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on Neo Performance Materials from C$30.00 to C$38.00 in a research report on Thursday, May 14th. Stifel Nicolaus lifted their price objective on Neo Performance Materials from C$26.00 to C$38.00 in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$38.00.

Neo Performance Materials Price Performance

The stock has a fifty day moving average of C$26.22 and a two-hundred day moving average of C$21.91. The stock has a market cap of C$1.34 billion, a price-to-earnings ratio of -133.21 and a beta of 1.46. The company has a quick ratio of 1.92, a current ratio of 1.76 and a debt-to-equity ratio of 41.75.

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

Insider Buying and Selling

In other Neo Performance Materials news, insider Kevin Morris sold 20,000 shares of the business’s 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 sale, the insider directly owned 105,966 shares in the company, valued at approximately C$2,436,158.34. The trade was a 15.88% decrease in their ownership of the stock. 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.