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

Neo Performance Materials Inc. (TSE:NEO) insider Kevin Morris sold 20,000 shares of Neo Performance Materials stock in a transaction on Monday, March 23rd. The stock was sold at an average price of C$22.99, for a total transaction of C$459,800.00. Following the transaction, the insider directly owned 105,966 shares of the company’s stock, valued at C$2,436,158.34. This represents a 15.88% decrease in their position.

Neo Performance Materials Trading Up 4.0%

NEO stock traded up C$0.86 during midday trading on Friday, hitting C$22.46. The stock had a trading volume of 95,223 shares, compared to its average volume of 256,895. The company has a current ratio of 1.83, a quick ratio of 1.92 and a debt-to-equity ratio of 27.06. The firm has a market cap of C$934.31 million, a P/E ratio of -93.58 and a beta of 1.25. The business has a fifty day moving average price of C$22.35 and a two-hundred day moving average price of C$19.49. Neo Performance Materials Inc. has a 1-year low of C$7.41 and a 1-year high of C$29.57.

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

Analyst Ratings Changes

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

Neo Performance Materials Company Profile

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.