Neo Performance Materials (TSE:NEO) Reaches New 12-Month High - Time to 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 hit 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 traded. The stock had previously closed at C$16.86.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NEO. Cormark upgraded Neo Performance Materials to a "moderate buy" rating in a research report on Wednesday, September 10th. Stifel Nicolaus increased 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 report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$22.00.

Neo Performance Materials Stock Performance

The firm has a 50-day moving average price of C$16.83 and a 200 day moving average price of C$12.78. The firm has a market capitalization of C$767.09 million, a PE ratio of -73.76 and a beta of 1.16. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 26th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 16th. Neo Performance Materials's dividend payout ratio (DPR) is currently -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.