Neo Performance Materials (TSE:NEO) Hits New 1-Year High - Time to Buy?

Key Points

• Neo Performance Materials Inc. shares reached a new 52-week high of C$23.33, closing at C$23.30 with a trading volume of 514,737 shares.
• Stifel Nicolaus raised its target price for Neo Performance Materials from C$22.00 to C$25.00, with the stock maintaining a consensus rating of "Buy" and a target price of C$25.00.
• The company declared a quarterly dividend of $0.10 per share, reflecting an annualized yield of 1.7%, despite a negative dividend payout ratio of -114.66%.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as C$23.33 and last traded at C$23.30, with a volume of 514737 shares changing hands. The stock had previously closed at C$20.95.

Analyst Ratings Changes

Several research firms have weighed in on NEO. Stifel Nicolaus upped their target price on Neo Performance Materials from C$22.00 to C$25.00 and gave the company a "buy" rating in a report on Tuesday. Cormark raised Neo Performance Materials to a "moderate buy" rating in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of C$25.00.

Neo Performance Materials Trading Up 11.2%

The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 10.65. The firm has a market cap of C$969.26 million, a price-to-earnings ratio of -93.20 and a beta of 0.88. The business has a 50 day moving average of C$18.06 and a 200 day moving average of C$13.95.

Neo Performance Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 26th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.7%. Neo Performance Materials's dividend payout ratio (DPR) is presently -114.66%.

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.

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