Neo Performance Materials (TSE:NEO) Insider Sells C$459,800.00 in Stock

Neo Performance Materials Inc. (TSE:NEO) insider Kevin Morris sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the insider owned 105,966 shares of the company’s stock, valued at approximately C$2,436,158.34. This represents a 15.88% decrease in their ownership of the stock.

Neo Performance Materials Price Performance

TSE NEO opened at C$22.46 on Monday. The company has a 50-day moving average price of C$22.42 and a 200-day moving average price of C$19.57. Neo Performance Materials Inc. has a 52 week low of C$7.41 and a 52 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. The firm has a market capitalization of C$934.31 million, a P/E ratio of -93.58 and a beta of 1.25.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NEO shares. Stifel Nicolaus boosted 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 report on Friday, February 6th. BMO Capital Markets set a C$30.00 target price on Neo Performance Materials and gave the company an “outperform” rating in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average 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.