Neo Performance Materials (TSE:NEO) Hits New 12-Month High After Analyst Upgrade

Neo Performance Materials Inc. (TSE:NEO)’s share price hit a new 52-week high 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 trading hands. The stock had previously closed at C$36.11.

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

Neo Performance Materials Price Performance

The company’s 50 day moving average is C$31.50 and its 200-day moving average is C$24.60. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75. The stock has a market cap of C$1.61 billion, a PE ratio of -145.92 and a beta of 1.45.

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

Neo Performance Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 29th were issued a dividend of $0.10 per share. 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 dividend payout ratio (DPR) is presently -120.72%.

Neo Performance Materials Company Profile

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.