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

Key Points

• Neo Performance Materials shares rose 2% on Friday, trading as high as C$29.45 before closing at C$29.08. Volume was lighter than usual, with about 147,436 shares changing hands, down 42% from the average.
• Analyst sentiment remains positive, with BMO Capital Markets assigning an outperform rating and a C$30 target, while Stifel Nicolaus raised its target to C$26 and kept a buy rating. The stock currently carries a consensus Buy rating and a C$28 average target price.
• Recent financial results were mixed, as the company reported C$0.01 EPS on revenue of C$157.96 million in its latest quarter. Neo also has a negative net margin and return on equity, though analysts still expect full-year EPS of 0.6753.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s share price rose 2% on Friday . The company traded as high as C$29.45 and last traded at C$29.08. Approximately 147,436 shares changed hands during trading, a decline of 42% from the average daily volume of 253,498 shares. The stock had previously closed at C$28.50.

Analyst Ratings Changes

NEO has been the subject of a number of research reports. BMO Capital Markets set a C$30.00 target price on shares of Neo Performance Materials and gave the company an "outperform" rating in a research report on Friday, February 20th. Stifel Nicolaus increased their target price on shares of 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 company currently has an average rating of "Buy" and a consensus target price of C$28.00.

Neo Performance Materials Stock Up 2.0%

The company has a market capitalization of C$1.21 billion, a PE ratio of -121.17 and a beta of 1.46. The company has a debt-to-equity ratio of 27.06, a quick ratio of 1.92 and a current ratio of 1.83. The stock's 50 day moving average is C$24.28 and its 200 day moving average is C$20.34.

Neo Performance Materials (TSE:NEO - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported C$0.01 EPS for the quarter. The company had revenue of C$157.96 million for the quarter. Neo Performance Materials had a negative net margin of 2.13% and a negative return on equity of 2.55%. On average, sell-side analysts anticipate that Neo Performance Materials Inc. will post 0.6753356 EPS for the current fiscal year.

Insider Activity at Neo Performance Materials

In related news, insider Kevin Morris sold 20,000 shares of the company'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 sale, the insider directly owned 105,966 shares in the company, valued at approximately C$2,436,158.34. This represents a 15.88% decrease in their position. 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.

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