Neo Performance Materials (TSE:NEO) Hits New 52-Week High – Time to Buy?

Neo Performance Materials Inc. (TSE:NEO) reached a new 52-week high during trading on Tuesday . The company traded as high as C$25.12 and last traded at C$25.05, with a volume of 84401 shares trading hands. The stock had previously closed at C$23.10.

Analysts Set New Price Targets

NEO has been the subject of several research reports. Stifel Nicolaus raised their target price on 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 objective on shares of Neo Performance Materials and gave the stock an “outperform” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$26.50.

Neo Performance Materials Price Performance

The stock has a fifty day moving average price of C$18.67 and a 200-day moving average price of C$18.27. The company has a market cap of C$1.06 billion, a PE ratio of -158.81 and a beta of 0.88. The company has a debt-to-equity ratio of 10.65, a current ratio of 2.59 and a quick ratio of 1.92.

Neo Performance Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, December 19th. Neo Performance Materials’s dividend payout ratio is currently -177.80%.

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.