Neo Performance Materials (TSE:NEO) Stock Rating Raised to Strong-Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Neo Performance Materials (TSE:NEO) to a strong-buy rating in a research report released on Friday,Zacks reports.

Other research analysts also recently issued reports about the company. Stifel Nicolaus raised their price objective on Neo Performance Materials from C$49.00 to C$55.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. BMO Capital Markets boosted their target price on Neo Performance Materials from C$43.00 to C$60.00 in a report on Monday, July 13th. Finally, ATB Cormark Capital Markets upped their target price on Neo Performance Materials from C$43.00 to C$53.50 and gave the stock an “outperform” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, Neo Performance Materials has an average rating of “Buy” and an average price target of C$56.17.

Neo Performance Materials Trading Up 0.1%

Neo Performance Materials stock opened at C$32.39 on Friday. Neo Performance Materials has a one year low of C$15.31 and a one year high of C$47.19. The company’s fifty day moving average price is C$34.27 and its two-hundred day moving average price is C$31.29. The company has a debt-to-equity ratio of 34.03, a current ratio of 2.06 and a quick ratio of 1.92. The company 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 (TSE:NEO) last announced its quarterly earnings results on Tuesday, August 11th. The company reported C$0.73 earnings per share for the quarter. The company had revenue of C$292.32 million during the quarter. Neo Performance Materials had a return on equity of 0.21% and a net margin of 0.15%. On average, analysts forecast that Neo Performance Materials will post 0.6753356 earnings per share for the current fiscal year.

Neo Performance Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 28th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Neo Performance Materials’s payout ratio is 2,870.19%.

Insider Buying and Selling

In related news, Director Rahim Suleman purchased 2,800 shares of Neo Performance Materials stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of C$36.38 per share, with a total value of C$101,864.00. Following the acquisition, the director directly owned 481,997 shares in the company, valued at approximately C$17,535,050.86. This trade represents a 0.58% increase in their ownership of the stock. 22.38% of the stock is currently owned by insiders.

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.