ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Neo Performance Materials (TSE:NEO) Stock

Neo Performance Materials (TSE:NEO) had its price objective boosted by equities researchers at ATB Cormark Capital Markets from C$43.00 to C$53.50 in a report issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would suggest a potential upside of 30.58% from the stock’s previous close.

NEO has been the subject of several other reports. BMO Capital Markets lifted their price target on Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Stifel Nicolaus increased their price objective on Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$43.17.

Neo Performance Materials Stock Performance

Neo Performance Materials stock traded up C$0.83 during trading hours on Friday, hitting C$40.97. The company had a trading volume of 321,990 shares, compared to its average volume of 285,695. The firm has a market cap of C$1.88 billion, a PE ratio of -170.71 and a beta of 1.44. The company has a debt-to-equity ratio of 41.75, a current ratio of 1.76 and a quick ratio of 1.92. Neo Performance Materials has a one year low of C$15.23 and a one year high of C$43.03. The firm has a 50-day moving average of C$33.01 and a 200 day moving average of C$25.52.

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

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.