ATB Cormark Capital Markets Issues Positive Forecast for Neo Performance Materials (TSE:NEO) Stock Price

Neo Performance Materials (TSE:NEO) had its price target raised by ATB Cormark Capital Markets from C$37.50 to C$43.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would suggest a potential upside of 14.61% from the company’s current price.

A number of other research firms also recently issued reports on NEO. BMO Capital Markets raised their price objective on shares of Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Stifel Nicolaus boosted their price objective on shares of Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$39.67.

Neo Performance Materials Price Performance

Shares of Neo Performance Materials stock traded up C$1.41 during trading on Tuesday, hitting C$37.52. The stock had a trading volume of 176,491 shares, compared to its average volume of 275,603. The firm has a market cap of C$1.73 billion, a price-to-earnings ratio of -156.33 and a beta of 1.45. Neo Performance Materials has a 12 month low of C$14.20 and a 12 month high of C$37.85. The business’s 50-day moving average is C$30.99 and its 200 day moving average is C$24.31. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75.

Neo Performance Materials (TSE:NEO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$215.44 million for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%. As a group, sell-side analysts anticipate 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.