Neo Performance Materials (TSE:NEO) Price Target Raised to C$23.00

Neo Performance Materials (TSE:NEO) had its price target hoisted by stock analysts at Stifel Nicolaus from C$22.50 to C$23.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 16.75% from the company’s previous close.

Neo Performance Materials Stock Up 4.7%

NEO traded up C$0.89 during midday trading on Friday, reaching C$19.70. 84,007 shares of the company were exchanged, compared to its average volume of 232,676. The company has a market cap of C$819.50 million, a price-to-earnings ratio of -123.13 and a beta of 0.88. Neo Performance Materials has a one year low of C$7.18 and a one year high of C$23.60. The company’s fifty day moving average price is C$17.62 and its 200 day moving average price is C$17.85. The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59.

Neo Performance Materials (TSE:NEO) last announced its earnings results on Friday, November 14th. The company reported C$0.20 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative return on equity of 0.53% and a negative net margin of 0.48%.The company had revenue of C$122.21 million for the quarter. As a group, analysts expect that Neo Performance Materials will post 0.6753356 EPS for the current year.

About Neo Performance Materials

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets. The Chemicals & Oxides segment manufactures and distributes a broad range of advanced industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium.