Kevin Morris Sells 20,000 Shares of Neo Performance Materials (TSE:NEO) Stock

Neo Performance Materials Inc. (TSE:NEO) insider Kevin Morris sold 20,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of C$22.99, for a total value of C$459,800.00. Following the transaction, 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

Shares of TSE NEO opened at C$22.46 on Friday. The stock has a market cap of C$934.31 million, a P/E ratio of -93.58 and a beta of 1.25. The firm’s 50-day simple moving average is C$22.42 and its 200 day simple moving average is C$19.56. Neo Performance Materials Inc. has a fifty-two week low of C$7.41 and a fifty-two week high of C$29.57. The company has a quick ratio of 1.92, a current ratio of 1.83 and a debt-to-equity ratio of 27.06.

Neo Performance Materials (TSE:NEO) last announced its earnings results on Thursday, March 19th. The company reported C$0.01 earnings per share (EPS) for the quarter. The firm had revenue of C$157.96 million during the quarter. Neo Performance Materials had a negative net margin of 2.13% and a negative return on equity of 2.55%. Equities analysts expect that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NEO shares. Stifel Nicolaus raised their price objective on shares of Neo Performance Materials from C$22.50 to C$23.00 and gave the company a “buy” rating in a research note on Friday, February 6th. BMO Capital Markets set a C$30.00 target price on Neo Performance Materials and gave the stock an “outperform” rating in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Neo Performance Materials currently has an average rating of “Buy” and a consensus price target of C$26.50.

About Neo Performance Materials

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.