Neo Performance Materials (TSE:NEO) Shares Down 4.7%

Shares of Neo Performance Materials Inc. (TSE:NEOGet Rating) were down 4.7% on Wednesday . The company traded as low as C$10.32 and last traded at C$10.37. Approximately 47,753 shares traded hands during trading, a decline of 54% from the average daily volume of 104,724 shares. The stock had previously closed at C$10.88.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NEO shares. Canaccord Genuity Group dropped their price objective on Neo Performance Materials from C$24.00 to C$18.00 in a report on Tuesday, September 20th. Raymond James decreased their target price on Neo Performance Materials from C$25.00 to C$23.00 and set an “outperform” rating for the company in a research note on Monday, September 19th. Stifel Nicolaus decreased their target price on Neo Performance Materials from C$19.75 to C$17.00 in a research note on Monday, September 19th. Finally, Scotiabank reduced their price objective on Neo Performance Materials from C$22.00 to C$21.00 in a research report on Monday, August 29th.

Neo Performance Materials Stock Performance

The company has a debt-to-equity ratio of 4.18, a quick ratio of 1.44 and a current ratio of 3.67. The stock has a market cap of C$468.61 million and a price-to-earnings ratio of 5.99. The stock has a fifty day simple moving average of C$11.31 and a two-hundred day simple moving average of C$12.40.

Neo Performance Materials (TSE:NEOGet Rating) last released its quarterly earnings data on Friday, August 12th. The company reported C$0.50 earnings per share for the quarter, beating the consensus estimate of C$0.41 by C$0.09. The firm had revenue of C$214.71 million for the quarter, compared to analyst estimates of C$202.13 million. Analysts expect that Neo Performance Materials Inc. will post 1.4299999 EPS for the current fiscal year.

About Neo Performance Materials

(Get Rating)

Neo Performance Materials Inc manufactures and sells 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.

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