Neo Performance Materials (TSE:NEO) Issues Earnings Results

Neo Performance Materials (TSE:NEO) posted its quarterly earnings data on Tuesday. The company reported C$0.47 earnings per share for the quarter, FiscalAI reports. Neo Performance Materials had a negative net margin of 2.13% and a negative return on equity of 2.55%. The company had revenue of C$215.44 million during the quarter.

Neo Performance Materials Stock Performance

NEO stock traded down C$0.04 during midday trading on Tuesday, hitting C$29.60. The company’s stock had a trading volume of 97,261 shares, compared to its average volume of 253,427. The stock’s 50-day moving average price is C$24.35 and its 200 day moving average price is C$20.47. The company has a quick ratio of 1.92, a current ratio of 1.83 and a debt-to-equity ratio of 27.06. Neo Performance Materials has a 1 year low of C$9.00 and a 1 year high of C$32.72. The stock has a market cap of C$1.23 billion, a price-to-earnings ratio of -123.33 and a beta of 1.46.

Insider Transactions at Neo Performance Materials

In other news, insider Kevin Morris sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of C$22.99, for a total transaction of C$459,800.00. Following the completion of the sale, the insider owned 105,966 shares in the company, valued at C$2,436,158.34. This trade represents a 15.88% decrease in their position. Company insiders own 22.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on Neo Performance Materials from C$25.50 to C$26.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. BMO Capital Markets set a C$30.00 target price on shares of Neo Performance Materials and gave the stock 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.com, the stock currently has an average rating of “Buy” and a consensus price target of C$28.00.

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.