Neo Performance Materials (TSE:NEO) Trading Up 1%

Neo Performance Materials Inc. (TSE:NEO) rose 1% during mid-day trading on Tuesday . The stock traded as high as C$6.00 and last traded at C$6.00. Approximately 68,413 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 81,750 shares. The stock had previously closed at C$5.94.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James dropped their price objective on shares of Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Stifel Nicolaus dropped their price target on 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 fifty day simple moving average of C$6.71 and a 200-day simple moving average of C$7.14. The company has a market cap of C$249.78 million, a P/E ratio of -23.08 and a beta of 1.48. The company has a debt-to-equity ratio of 6.76, a current ratio of 3.08 and a quick ratio of 1.92.

Neo Performance Materials (TSE:NEO) last announced its earnings results on Friday, March 15th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of C$175.19 million for the quarter, compared to analyst estimates of C$187.67 million. On average, sell-side analysts predict that Neo Performance Materials Inc. will post 0.4738462 earnings per share for the current year.

Insider Buying and Selling at Neo Performance Materials

In related news, Director Rahim Suleman bought 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average cost of C$6.05 per share, for a total transaction of C$363,000.00. In other Neo Performance Materials news, Director Rahim Suleman purchased 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average price of C$6.05 per share, with a total value of C$363,000.00. Also, Senior Officer Kevin Morris bought 7,000 shares of Neo Performance Materials stock in a transaction dated Monday, March 25th. The stock was purchased at an average price of C$6.09 per share, for a total transaction of C$42,630.00. Insiders bought 81,175 shares of company stock worth $492,578 over the last ninety days. Company insiders own 21.52% of the company’s stock.

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.