Neo Performance Materials (TSE:NEO) Stock Price Up 11%

Neo Performance Materials Inc. (TSE:NEO - Get Free Report) shares rose 11% on Friday . The company traded as high as C$6.61 and last traded at C$6.45. Approximately 88,825 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 77,296 shares. The stock had previously closed at C$5.81.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NEO shares. Stifel Nicolaus decreased their price objective on shares of Neo Performance Materials from C$9.00 to C$7.50 and set a "hold" rating for the company in a research note on Monday, March 18th. Raymond James lowered their price target on Neo Performance Materials from C$13.00 to C$11.00 and set an "outperform" rating for the company in a report on Monday, March 18th.

Neo Performance Materials Stock Performance

The company has a quick ratio of 1.92, a current ratio of 3.08 and a debt-to-equity ratio of 6.76. The stock has a 50 day simple moving average of C$6.21 and a 200 day simple moving average of C$6.95. The company has a market capitalization of C$263.19 million, a price-to-earnings ratio of -25.42 and a beta of 1.43.

Neo Performance Materials (TSE:NEO - Get Free Report) last issued its earnings results on Friday, March 15th. The company reported C$0.03 EPS for the quarter, missing analysts' consensus estimates of C$0.15 by C($0.12). Neo Performance Materials had a negative net margin of 1.48% and a negative return on equity of 1.84%. The company had revenue of C$175.19 million during the quarter, compared to analyst estimates of C$187.67 million. As a group, analysts anticipate that Neo Performance Materials Inc. will post 0.5347544 earnings per share for the current fiscal year.

Insider Transactions at Neo Performance Materials

In other Neo Performance Materials news, Director Rahim Suleman acquired 60,000 shares of Neo Performance Materials stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average cost of C$6.05 per share, for a total transaction of C$363,000.00. In other news, Director Rahim Suleman bought 60,000 shares of the business's stock in a transaction on Tuesday, March 19th. The stock was purchased at an average cost of C$6.05 per share, for a total transaction of C$363,000.00. Also, Senior Officer Jonathan Baksh bought 13,575 shares of the business's stock in a transaction on Tuesday, March 19th. The stock was purchased at an average price of C$6.14 per share, with a total value of C$83,384.44. Over the last three months, insiders acquired 81,175 shares of company stock worth $492,578. Company insiders own 21.76% of the company's stock.

Neo Performance Materials Company Profile

Neo Performance Materials Inc engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets; and bonded magnets.

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