ATB Cormark Capital Markets Increases Neo Performance Materials (TSE:NEO) Price Target to C$53.50

Neo Performance Materials (TSE:NEO) had its price target lifted by research analysts at ATB Cormark Capital Markets from C$43.00 to C$53.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price indicates a potential upside of 30.58% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets increased their price objective on Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Stifel Nicolaus upped their price target on shares of Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Neo Performance Materials presently has a consensus rating of “Buy” and a consensus price target of C$43.17.

Neo Performance Materials Stock Up 2.1%

Shares of TSE NEO traded up C$0.83 during mid-day trading on Friday, hitting C$40.97. The company had a trading volume of 321,990 shares, compared to its average volume of 285,695. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75. The firm has a 50-day simple moving average of C$33.01 and a two-hundred day simple moving average of C$25.52. The company has a market capitalization of C$1.88 billion, a PE ratio of -170.71 and a beta of 1.44. Neo Performance Materials has a one year low of C$15.23 and a one year high of C$43.03.

Neo Performance Materials (TSE:NEO) last released its earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$215.44 million for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%. On average, equities analysts expect that Neo Performance Materials will post 0.6753356 EPS for the current year.

Neo Performance Materials Company Profile

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.