Canaccord Genuity Group Lowers NEO Performance Materials Target Price to C$13.00
April 1, 2023
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NEO ($TSX:NEO) Performance Materials is a specialty chemicals company that focuses on high-growth niche markets. They are a leading global supplier of rare earth, rare metal and functional materials, with operations and customers on five continents. Their portfolio of products spans a wide range of industries, including electronics, automotive, renewable energy, industrial manufacturing and healthcare, among others. The company boasts a diverse range of products, including precious metals, functional and rare earth materials, specialty chemicals and other specialty products. They have proprietary technologies that enable them to develop high-performance materials needed to enable cutting-edge applications.
Their products are used in industries such as automotive, electronics, renewable energy and industrial manufacturing. They have the expertise, experience and resources to provide customized solutions for their customers. NEO Performance Materials prides itself on its sustainable initiatives, which have been recognized by numerous awards. Despite the reduced target price from Canaccord Genuity Group, NEO Performance Materials continues to be one of the top players in the specialty chemicals industry. With a commitment to innovation and sustainability, as well as a solid track record of success in their niche markets, NEO Performance Materials looks set to remain a leader in the industry.
Stock Price
On Friday, NEO PERFORMANCE MATERIALS stock opened at CA$8.7 and closed at CA$9.3, resulting in a rise of 7.2% from the prior closing price of CA$8.7. The current trading price of NEO Performance Materials is well below the target price, indicating that the company’s stock could potentially be undervalued. The company’s performance over the past quarter has been strong and it may be worth considering an investment in NEO Performance Materials for those looking to purchase undervalued stocks. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for NEO. More…
| Total Revenues | Net Income | Net Margin |
| 640.3 | 25.95 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for NEO. More…
| Operations | Investing | Financing |
| 3.7 | -17.43 | 74.79 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for NEO. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 676.46 | 198.82 | 10.61 |
Key Ratios Snapshot
Some of the financial key ratios for NEO are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.3% | 15.7% | 6.6% |
| FCF Margin | ROE | ROA |
| -2.2% | 5.5% | 3.9% |
Analysis
At GoodWhale, we have conducted an in-depth analysis of NEO PERFORMANCE MATERIALS’ wellbeing. We have found that NEO PERFORMANCE MATERIALS is a high risk investment in terms of financial and business aspects. Our Risk Rating for this company is quite low and could be a sign of potential losses. We have also detected one risk warning in its income sheet. We recommend that those interested in investing in NEO PERFORMANCE MATERIALS register with us to find out what this warning is and how it can be addressed. Our team of experts can help you to make an informed decision and make sure that your investment is as safe as possible. More…
Peers
The company’s products include rare earth metals and alloys, as well as a variety of other materials. Neo Performance Materials Inc’s competitors include 5N Plus Inc, Zeon Corp, and NOF Corp.
– 5N Plus Inc ($TSX:VNP)
Hanesbrands Inc. is a publicly traded clothing company based in Winston-Salem, North Carolina. The company was founded in 1901 and has since grown to become one of the largest clothing manufacturers in the world. Hanesbrands Inc. is best known for its underwear, t-shirts, and socks. The company also manufactures a variety of other clothing items including outerwear, sleepwear, and hosiery. Hanesbrands Inc. has a market cap of 178.43M as of 2022 and a Return on Equity of 1.18%. The company’s products are sold in over 50 countries around the world and it has over 60,000 employees.
– Zeon Corp ($TSE:4205)
Zeon Corporation is a Japanese chemical company that was founded in 1950. The company is headquartered in Tokyo, Japan, and its products include synthetic rubber, plastics, and chemicals. Zeon Corporation has a market cap of 268.61B as of 2022, and a return on equity of 8.53%. The company’s products are used in a variety of industries, including automotive, electronics, and healthcare.
– NOF Corp ($TSE:4403)
As of 2022, NOF Corp has a market cap of 417.73B and a Return on Equity of 12.06%. The company is engaged in the business of providing services to the oil and gas industry.
Summary
Analysts noted that the company has been facing declining demand in its core markets and that it has seen weak pricing pressure, leading to lower profits.
Additionally, Neo Performance Materials has been struggling with higher costs associated with raw materials and transportation. While the company’s cost-cutting efforts have been successful, it may not be enough to offset the slowing demand. Analysts are currently suggesting a “Hold” rating on the stock. Investors should watch this one closely, as it remains to be seen if the company can turn things around.
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