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

Shares of Neo Performance Materials Inc. (TSE:NEO) were up 1% 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 trading, a decline of 16% from the average daily volume of 81,750 shares. The stock had previously closed at C$5.94.

Analyst Ratings Changes

Several analysts have weighed in on NEO shares. 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 note on Monday, March 18th. Raymond James dropped 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 research note on Monday, March 18th.

Neo Performance Materials Price Performance

The company has a market cap of C$250.61 million, a price-to-earnings ratio of -23.08 and a beta of 1.48. 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 business has a fifty day moving average of C$6.68 and a two-hundred day moving average of C$7.13.

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). The business had revenue of C$175.19 million during the quarter, compared to analyst estimates of C$187.67 million. Neo Performance Materials had a negative return on equity of 1.84% and a negative net margin of 1.48%. As a group, equities analysts anticipate that Neo Performance Materials Inc. will post 0.4738462 EPS for the current fiscal year.

Insider Buying and Selling at Neo Performance Materials

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