Neo Performance Materials (TSE:NEO) Sets New 52-Week High – What’s Next?

Neo Performance Materials Inc. (TSE:NEO) shares reached a new 52-week high during mid-day trading on Monday . The stock 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

Several equities research analysts have issued reports on the stock. BMO Capital Markets set a C$30.00 price objective on shares of Neo Performance Materials and gave the stock an “outperform” rating in a research note on Friday, February 20th. Stifel Nicolaus boosted their price objective on shares of Neo Performance Materials from C$26.00 to C$38.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$34.00.

Neo Performance Materials Trading Up 5.2%

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’s 50 day simple moving average is C$24.49 and its 200-day simple moving average is C$20.63. The company has a market capitalization of C$1.34 billion, a PE ratio of -133.75 and a beta of 1.46.

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

Insider Transactions at Neo Performance Materials

In related news, insider Kevin Morris sold 20,000 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 105,966 shares of the company’s stock, 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 owned by corporate insiders.

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.