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

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 shares were sold at an average price of C$22.99, for a total value of C$459,800.00. Following the transaction, the insider owned 105,966 shares in the company, valued at approximately C$2,436,158.34. This trade represents a 15.88% decrease in their ownership of the stock.

Neo Performance Materials Trading Up 4.0%

Shares of Neo Performance Materials stock opened at C$22.46 on Friday. The business has a fifty day simple moving average of C$22.42 and a 200-day simple moving average of C$19.53. Neo Performance Materials Inc. has a fifty-two week low of C$7.41 and a fifty-two week high of C$29.57. The firm has a market cap of C$934.31 million, a price-to-earnings ratio of -93.58 and a beta of 1.25. The company has a quick ratio of 1.92, a current ratio of 1.83 and a debt-to-equity ratio of 27.06.

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

Wall Street Analyst Weigh In

NEO has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Neo Performance Materials from C$22.50 to C$23.00 and gave the company a “buy” rating in a research note on Friday, February 6th. BMO Capital Markets set a C$30.00 price target on shares of Neo Performance Materials and gave the stock an “outperform” rating in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price 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.