Neo Performance Materials (TSE:NEO) Reaches New 52-Week High – What’s Next?

Neo Performance Materials Inc. (TSE:NEO)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$35.00 and last traded at C$31.97, with a volume of 348921 shares changing hands. The stock had previously closed at C$31.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. BMO Capital Markets increased their price target on shares of Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$38.00.

Neo Performance Materials Stock Up 2.7%

The business has a 50-day moving average price of C$26.22 and a 200-day moving average price of C$21.91. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75. The stock has a market cap of C$1.34 billion, a PE ratio of -133.21 and a beta of 1.46.

Neo Performance Materials (TSE:NEO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.47 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 firm had revenue of C$215.44 million during the quarter. As a group, analysts forecast that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kevin Morris sold 20,000 shares of the 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 completion of the transaction, the insider directly owned 105,966 shares of the company’s stock, valued at approximately C$2,436,158.34. This represents a 15.88% decrease in their position. Corporate insiders own 22.38% of the company’s stock.

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.