Neo Performance Materials (TSE:NEO) Reaches New 12-Month High on Analyst Upgrade

Neo Performance Materials Inc. (TSE:NEO)’s stock price hit a new 52-week high during mid-day trading on Tuesday after ATB Cormark Capital Markets raised their price target on the stock from C$37.50 to C$43.00. ATB Cormark Capital Markets currently has an outperform rating on the stock. Neo Performance Materials traded as high as C$37.85 and last traded at C$37.70, with a volume of 153867 shares changing hands. The stock had previously closed at C$36.11.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday, May 13th. BMO Capital Markets increased their price target on shares of Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$39.67.

Neo Performance Materials Trading Down 5.5%

The company’s 50-day moving average price is C$31.50 and its 200-day moving average price is C$24.60. The firm has a market cap of C$1.62 billion, a price-to-earnings ratio of -146.46 and a beta of 1.45. The company has a quick ratio of 1.92, a current ratio of 1.76 and a debt-to-equity ratio of 41.75.

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

Neo Performance Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. Neo Performance Materials’s payout ratio is currently -120.72%.

About Neo Performance Materials

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.