Neo Performance Materials (TSE:NEO) Reaches New 12-Month High - Still a Buy?

Key Points

• Neo Performance Materials reached a new 52-week high of C$18.35, marking a significant increase from its previous closing price of C$16.86.
• Analysts have upgraded the stock's rating, with a consensus rating of "Buy" and a target price set at C$22.00.
• The company announced a quarterly dividend of $0.10 per share, translating to an annual yield of 2.2%.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as C$18.35 and last traded at C$18.35, with a volume of 304055 shares changing hands. The stock had previously closed at C$16.86.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NEO shares. Stifel Nicolaus raised their price objective on shares of Neo Performance Materials from C$17.50 to C$22.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Cormark upgraded shares of Neo Performance Materials to a "moderate buy" rating in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$22.00.

Neo Performance Materials Stock Performance

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's fifty day moving average is C$16.83 and its 200 day moving average is C$12.81. The company has a market cap of C$817.84 million, a P/E ratio of -78.64 and a beta of 1.16.

Neo Performance Materials Announces Dividend

The company also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Neo Performance Materials's dividend payout ratio (DPR) is -114.66%.

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.