Shares of Neo Performance Materials Inc. (TSE:NEO – Get Free Report) fell 7.1% on Thursday . The company traded as low as C$28.00 and last traded at C$28.80. 127,220 shares changed hands during trading, a decline of 51% from the average session volume of 257,961 shares. The stock had previously closed at C$31.01.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on NEO. BMO Capital Markets lifted their price objective on Neo Performance Materials from C$30.00 to C$38.00 in a research report on Thursday, May 14th. Stifel Nicolaus lifted their price objective on Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$38.00.
Get Our Latest Analysis on NEO
Neo Performance Materials Trading Down 8.6%
Neo Performance Materials (TSE:NEO – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.47 EPS for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%.The company had revenue of C$215.44 million for the quarter. As a group, equities analysts forecast that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Kevin Morris sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of C$22.99, for a total value of C$459,800.00. Following the transaction, the insider directly owned 105,966 shares of the company’s stock, valued at approximately C$2,436,158.34. The trade was a 15.88% decrease in their position. Corporate insiders own 22.38% of the company’s stock.
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.
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