Insider Selling: Neo Performance Materials (TSE:NEO) Insider Sells 20,000 Shares of Stock

Neo Performance Materials Inc. (TSE:NEO) insider Kevin Morris sold 20,000 shares of Neo Performance Materials 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 C$2,436,158.34. This trade represents a 15.88% decrease in their ownership of the stock.

Neo Performance Materials Price Performance

NEO stock traded up C$0.86 during trading on Friday, reaching C$22.46. 95,223 shares of the company were exchanged, compared to its average volume of 256,895. The company has a market capitalization of C$934.31 million, a price-to-earnings ratio of -93.58 and a beta of 1.25. 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 company has a 50-day moving average of C$22.35 and a two-hundred day moving average of C$19.49. Neo Performance Materials Inc. has a twelve month low of C$7.41 and a twelve month high of C$29.57.

Neo Performance Materials (TSE:NEO) last issued its earnings results on Thursday, March 19th. The company reported C$0.01 earnings per share for the quarter. The firm 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%. As a group, equities analysts predict that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NEO has been the subject of several research reports. Stifel Nicolaus increased their target price on Neo Performance Materials from C$22.50 to C$23.00 and gave the company a “buy” rating in a research report on Friday, February 6th. BMO Capital Markets set a C$30.00 price target 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, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$26.50.

Neo Performance Materials Company Profile

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.