Neo Performance Materials (TSE:NEO) Hits New 52-Week High - Here's Why

Key Points

• Neo Performance Materials (TSE:NEO) reached a new 52-week high of C$20.40 in mid-day trading, with the last trading price at C$20.00.
• Wall Street analysts have positive outlooks for the stock, with Stifel Nicolaus raising its price target from C$17.50 to C$22.00 and giving it a "buy" rating.
• The company announced a quarterly dividend of $0.10, with an annualized yield of 2.0%, although its payout ratio is currently negative at -114.66%.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$20.40 and last traded at C$20.00, with a volume of 231286 shares. The stock had previously closed at C$19.84.

Wall Street Analysts Forecast Growth

NEO has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on Neo Performance Materials from C$17.50 to C$22.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Cormark raised shares of Neo Performance Materials to a "moderate buy" rating in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$22.00.

Neo Performance Materials Stock Performance

The firm has a 50-day moving average of C$17.04 and a two-hundred day moving average of C$12.99. 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 company has a market capitalization of C$831.98 million, a PE ratio of -80.00 and a beta of 1.16.

Neo Performance Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 26th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. Neo Performance Materials's payout ratio 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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