Neo Performance Materials (TSE:NEO) Reaches New 1-Year High - What's Next?

Key Points

• Neo Performance Materials shares hit a new 52-week high of C$23.57, closing at C$22.95 with a significant trading volume of over 1.17 million shares.
• Equity analysts have upgraded their ratings on the stock, with a consensus rating of "Buy" and a target price of C$25.00, highlighting positive market sentiment.
• The company reported a recent quarterly dividend payment of $0.10, with a current yield of 1.7%, but has a high dividend payout ratio of -114.66%.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$23.57 and last traded at C$22.95, with a volume of 1173731 shares. The stock had previously closed at C$20.40.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NEO shares. Stifel Nicolaus raised their target price on Neo Performance Materials from C$22.00 to C$25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Cormark upgraded shares of Neo Performance Materials to a "moderate buy" rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Neo Performance Materials has a consensus rating of "Buy" and a consensus target price of C$25.00.

Neo Performance Materials Price Performance

The firm has a market capitalization of C$954.70 million, a PE ratio of -91.80 and a beta of 0.88. The company has a current ratio of 2.59, a quick ratio of 1.92 and a debt-to-equity ratio of 10.65. The company has a fifty day moving average price of C$18.37 and a two-hundred day moving average price of C$14.25.

Neo Performance Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 26th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 16th. Neo Performance Materials's dividend payout ratio is presently -114.66%.

Insider Activity

In other news, insider Wyloo Consolidated Investments Pty Ltd. sold 8,275,311 shares of the firm's stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of C$20.00, for a total transaction of C$165,506,220.00. Company insiders own 22.38% of the company's stock.

Neo Performance Materials Company Profile

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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