Neo Performance Materials (TSE:NEO) Hits New 1-Year High – Here’s Why

Shares of Neo Performance Materials Inc. (TSE:NEO) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$33.31 and last traded at C$33.20, with a volume of 263535 shares. The stock had previously closed at C$31.35.

Analyst Ratings Changes

Several analysts recently commented on NEO shares. Stifel Nicolaus lifted their target price on shares of Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday, May 13th. BMO Capital Markets lifted their target price on shares of Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$38.00.

Neo Performance Materials Stock Performance

The stock’s 50-day simple moving average is C$25.33 and its 200-day simple moving average is C$21.35. The stock has a market cap of C$1.41 billion, a price-to-earnings ratio of -140.13 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 (TSE:NEO) last announced its earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. The firm had revenue of C$215.44 million for the quarter. Analysts forecast that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current fiscal year.

Insider Activity

In other Neo Performance Materials news, insider Kevin Morris sold 20,000 shares of the 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 transaction, the insider owned 105,966 shares in the company, valued at C$2,436,158.34. This represents a 15.88% decrease in their position. 22.38% of the stock is currently owned by 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.