Neo Performance Materials (TSE:NEO) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Neo Performance Materials (TSE:NEO) had its price objective lifted by equities researchers at BMO Capital Markets from C$30.00 to C$38.00 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 16.56% from the company’s current price.

Separately, Stifel Nicolaus raised their price target on shares of Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$38.00.

Neo Performance Materials Price Performance

Neo Performance Materials stock opened at C$32.60 on Thursday. The company has a 50-day moving average price of C$24.71 and a 200 day moving average price of C$20.80. The stock has a market cap of C$1.37 billion, a P/E ratio of -135.83 and a beta of 1.46. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75. Neo Performance Materials has a 12-month low of C$9.00 and a 12-month high of C$33.00.

Neo Performance Materials (TSE:NEO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$215.44 million during the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. Sell-side analysts anticipate that Neo Performance Materials will post 0.6753356 earnings per share for the current year.

Insider Activity

In other news, insider Kevin Morris sold 20,000 shares of the firm’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 completion of the sale, the insider owned 105,966 shares in the company, valued at C$2,436,158.34. This trade represents a 15.88% decrease in their position. 22.38% of the stock is owned by corporate insiders.

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.