Neo Performance Materials (TSE:NEO) Hits New 12-Month High – Still a Buy?

Neo Performance Materials Inc. (TSE:NEO)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$33.31 and last traded at C$33.20, with a volume of 263535 shares changing hands. The stock had previously closed at C$31.35.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Neo Performance Materials from C$30.00 to C$38.00 in a research report on Thursday, May 14th. Stifel Nicolaus boosted their price objective on Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$38.00.

Neo Performance Materials Stock Performance

The stock has a market capitalization of C$1.44 billion, a P/E ratio of -143.25 and a beta of 1.46. The company has a 50 day simple moving average of C$25.84 and a 200-day simple moving average of C$21.70. 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 (TSE:NEO) last issued its earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. The firm 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%. On average, equities analysts forecast that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

Insider Activity

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

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.