Neo Performance Materials (TSE:NEO) Stock Bumped Up to “Strong-Buy” by Jefferies Financial Group

Neo Performance Materials (TSE:NEO – Get Free Report) was upgraded by analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued to investors on Friday, Zacks reports.

A number of other brokerages have also commented on NEO. BMO Capital Markets lifted their price objective on Neo Performance Materials from C$43.00 to C$60.00 in a research report on Monday, July 13th. ATB Cormark Capital Markets upped their target price on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Stifel Nicolaus lifted their price target on shares of Neo Performance Materials from C$49.00 to C$55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, Neo Performance Materials presently has an average rating of “Buy” and a consensus target price of C$56.17.

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Neo Performance Materials Stock Up 0.1%

Shares of NEO opened at C$32.39 on Friday. The business’s fifty day moving average price is C$34.27 and its two-hundred day moving average price is C$31.29. The firm has a market capitalization of C$1.50 billion, a price-to-earnings ratio of 3,239.00 and a beta of 1.46. Neo Performance Materials has a 52 week low of C$15.31 and a 52 week high of C$47.19. The company has a debt-to-equity ratio of 34.03, a quick ratio of 1.92 and a current ratio of 2.06.

Neo Performance Materials (TSE:NEO – Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported C$0.73 earnings per share for the quarter. Neo Performance Materials had a return on equity of 0.21% and a net margin of 0.15%.The company had revenue of C$292.32 million during the quarter. On average, analysts predict that Neo Performance Materials will post 0.6753356 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Rahim Suleman bought 2,800 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of C$36.38 per share, for a total transaction of C$101,864.00. Following the completion of the acquisition, the director owned 481,997 shares in the company, valued at approximately C$17,535,050.86. This trade represents a 0.58% increase in their position. Company insiders own 22.38% of the company’s stock.

Neo Performance Materials Company Profile

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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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