Neo Performance Materials (TSE:NEO) Reaches New 1-Year High - Time to 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)'s stock price reached a new 52-week high 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.

Analysts Set New Price Targets

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

Neo Performance Materials Price Performance

The stock's 50-day moving average is C$13.88 and its 200-day moving average is C$10.81. The firm has a market cap of C$505.73 million, a P/E ratio of -226.94 and a beta of 1.38. The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 10.65.

Neo Performance Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 27th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 17th. Neo Performance Materials's payout ratio is -525.33%.

Insider Transactions at Neo Performance Materials

In other Neo Performance Materials news, Director Rahim Suleman purchased 5,100 shares of the stock in a transaction on Wednesday, June 4th. The shares were purchased 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 company 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.

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