Neo Performance Materials (TSE:NEO) Reaches New 52-Week High - Still a Buy?

Key Points

• Neo Performance Materials achieved a new 52-week high with its stock trading at C$17.46, reflecting an increase from its previous close of C$16.57.
• Analyst firm Stifel Nicolaus raised its price target for the company's shares from C$16.50 to C$17.50, indicating positive expectations for the stock's performance.
• Neo Performance Materials recently declared a quarterly dividend of $0.10, resulting in an annualized yield of 2.3%; however, the company's payout ratio stands at -525.33%.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$17.46 and last traded at C$17.25, with a volume of 114432 shares traded. The stock had previously closed at C$16.57.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus raised their price target on shares of Neo Performance Materials from C$16.50 to C$17.50 in a research report on Monday, May 12th.

Neo Performance Materials Stock Up 1.1%

The firm has a market cap of C$501.93 million, a price-to-earnings ratio of -225.23 and a beta of 1.38. The business's 50 day moving average price is C$14.34 and its 200 day moving average price is C$11.01. The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59.

Neo Performance Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 27th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.3%. Neo Performance Materials's dividend payout ratio (DPR) is presently -525.33%.

Insider Activity at Neo Performance Materials

In other news, Director Rahim Suleman acquired 5,100 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average price of C$9.87 per share, with a total value of C$50,344.14. 22.38% of the stock is owned by insiders.

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.