Neo Performance Materials (TSE:NEO) Stock Price Up 2% – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO) shares shot up 2% during trading on Friday . The company traded as high as C$29.45 and last traded at C$29.08. 147,436 shares changed hands during trading, a decline of 42% from the average session volume of 253,498 shares. The stock had previously closed at C$28.50.

Analyst Ratings Changes

Several research analysts have weighed in on NEO shares. BMO Capital Markets set a C$30.00 price objective on Neo Performance Materials and gave the stock an “outperform” rating in a research report on Friday, February 20th. Stifel Nicolaus raised their target price on Neo Performance Materials from C$25.50 to C$26.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$28.00.

Neo Performance Materials Stock Up 2.0%

The stock’s 50-day moving average price is C$24.28 and its two-hundred day moving average price is C$20.34. The company has a current ratio of 1.83, a quick ratio of 1.92 and a debt-to-equity ratio of 27.06. The stock has a market capitalization of C$1.21 billion, a P/E ratio of -121.17 and a beta of 1.46.

Neo Performance Materials (TSE:NEO) last posted its quarterly earnings results on Thursday, March 19th. The company reported C$0.01 EPS for the quarter. 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$157.96 million for the quarter. As a group, research analysts expect that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current fiscal year.

Insider Activity

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

Neo Performance Materials Company Profile

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.