Neo Performance Materials (TSE:NEO) Trading Down 0.3%

Shares of Neo Performance Materials Inc. (TSE:NEO) were down 0.3% during mid-day trading on Wednesday . The company traded as low as C$5.71 and last traded at C$5.73. Approximately 57,980 shares traded hands during trading, a decline of 25% from the average daily volume of 76,988 shares. The stock had previously closed at C$5.75.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Raymond James lowered their price target on Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Stifel Nicolaus lowered their price target on shares of Neo Performance Materials from C$9.00 to C$7.50 and set a “hold” rating on the stock in a research report on Monday, March 18th.

Neo Performance Materials Price Performance

The company has a current ratio of 3.08, a quick ratio of 1.92 and a debt-to-equity ratio of 6.76. The company has a market capitalization of C$239.00 million, a price-to-earnings ratio of -22.04 and a beta of 1.43. The company’s 50 day simple moving average is C$6.26 and its 200-day simple moving average is C$6.97.

Neo Performance Materials (TSE:NEO) last announced its quarterly earnings data 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 business had revenue of C$175.19 million during the quarter, compared to analysts’ expectations of C$187.67 million. On average, equities research analysts predict that Neo Performance Materials Inc. will post 0.5347544 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Jonathan Baksh bought 13,575 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average cost of C$6.14 per share, for a total transaction of C$83,384.44. In other Neo Performance Materials news, Senior Officer Kevin Morris acquired 7,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of C$6.09 per share, for a total transaction of C$42,630.00. Also, Senior Officer Jonathan Baksh bought 13,575 shares of Neo Performance Materials stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average price of C$6.14 per share, for a total transaction of C$83,384.44. Insiders purchased a total of 81,175 shares of company stock valued at $492,578 in the last 90 days. 21.76% of the stock is currently owned by insiders.

About Neo Performance Materials

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.