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

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

Wall Street Analysts Forecast Growth

NEO has been the subject of a number of recent analyst reports. Raymond James cut their target price on Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Stifel Nicolaus reduced their price objective 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 note on Monday, March 18th.

Neo Performance Materials Stock Up 1.0 %

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. The stock has a fifty day moving average price of C$6.71 and a two-hundred day moving average price of C$7.14.

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

Insider Buying and Selling

In related news, Director Rahim Suleman bought 60,000 shares of Neo Performance Materials stock in a transaction dated Tuesday, March 19th. The stock was purchased at an average cost of C$6.05 per share, with a total value of C$363,000.00. In other news, Director Rahim Suleman bought 60,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were purchased at an average cost of C$6.05 per share, for a total transaction of C$363,000.00. Also, Senior Officer Jonathan Baksh purchased 13,575 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average price of C$6.14 per share, with a total value of C$83,384.44. In the last ninety days, insiders have purchased 81,175 shares of company stock valued at $492,578. 21.52% of the stock is owned by insiders.

Neo Performance Materials Company Profile

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.