Stifel Nicolaus Increases Neo Performance Materials (TSE:NEO) Price Target to C$26.00

Key Points

• Stifel Nicolaus raised its price target on Neo Performance Materials to C$26.00 (from C$25.50) and kept a "Buy" rating, while BMO targets C$30.00 and the analyst consensus average is C$28.00, implying upside from current levels.
• Shares traded up to C$23.92 on the day, with a market cap around C$995M; the company reported C$0.01 EPS for the quarter but still posts a negative net margin and ROE, and a 12‑month range of C$9.00–C$29.57.
• Insider Kevin Morris sold 20,000 shares at about C$22.99 (reducing his stake by ~15.9%), and corporate insiders collectively own 22.38% of the company.

Neo Performance Materials (TSE:NEO - Get Free Report) had its price objective upped by equities researchers at Stifel Nicolaus from C$25.50 to C$26.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 8.70% from the company's current price.

Separately, BMO Capital Markets set a C$30.00 target price on Neo Performance Materials and gave the stock an "outperform" rating in a report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Neo Performance Materials has a consensus rating of "Buy" and an average price target of C$28.00.

Neo Performance Materials Stock Performance

Shares of TSE NEO traded up C$0.71 during midday trading on Friday, hitting C$23.92. 94,208 shares of the company's stock were exchanged, compared to its average volume of 255,851. The company has a debt-to-equity ratio of 27.06, a current ratio of 1.83 and a quick ratio of 1.92. The stock's 50 day moving average price is C$23.16 and its 200-day moving average price is C$19.93. The firm has a market cap of C$995.05 million, a P/E ratio of -99.67 and a beta of 1.45. Neo Performance Materials has a twelve month low of C$9.00 and a twelve month high of C$29.57.

Neo Performance Materials (TSE:NEO - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The company reported C$0.01 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative return on equity of 2.55% and a negative net margin of 2.13%.The business had revenue of C$157.96 million during the quarter. Equities research analysts anticipate that Neo Performance Materials 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 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 value of C$459,800.00. Following the transaction, the insider 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 ownership of the stock. Corporate insiders own 22.38% of the company's stock.

About Neo Performance Materials

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets. The Chemicals & Oxides segment manufactures and distributes a broad range of advanced industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium.

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