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

Neo Performance Materials (TSE:NEO) had its target price increased by Stifel Nicolaus from C$26.00 to C$38.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

Separately, BMO Capital Markets set a C$30.00 price target on shares of Neo Performance Materials and gave the company an “outperform” rating in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$38.00.

Neo Performance Materials Stock Performance

Shares of NEO stock opened at C$32.60 on Wednesday. Neo Performance Materials has a 12 month low of C$9.00 and a 12 month high of C$33.00. The company has a market cap of C$1.37 billion, a P/E ratio of -135.83 and a beta of 1.46. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75. The firm has a fifty day moving average price of C$24.71 and a 200 day moving average price of C$20.80.

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

Insiders Place Their Bets

In related news, insider Kevin Morris sold 20,000 shares of the business’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 completion of the sale, the insider directly owned 105,966 shares of the company’s stock, valued at C$2,436,158.34. The trade was a 15.88% decrease in their ownership of the stock. 22.38% of the stock is currently owned by company 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.