Neo Performance Materials (TSE:NEO) Sets New 12-Month High on Analyst Upgrade

Key Points

• Neo Performance Materials hit a new 52-week high after BMO Capital Markets raised its price target sharply from C$43 to C$60. The stock traded as high as C$43.90, up about 6.6% on the day.
• Other analysts have also turned more bullish, including ATB Cormark raising its target to C$53.50 with an outperform rating and Stifel Nicolaus lifting its target to C$38.00. The consensus analyst rating remains Buy with a consensus price target of C$50.50.
• The company recently reported quarterly EPS of C$0.47 on revenue of C$215.44 million and paid a quarterly dividend of C$0.10 per share. It has a market cap of about C$2.05 billion and is expected to earn 0.675 EPS for the current year.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$43.00 to C$60.00. The stock traded as high as C$43.90 and last traded at C$43.85, with a volume of 28672 shares trading hands. The stock had previously closed at C$41.82.

Other analysts have also recently issued research reports about the stock. ATB Cormark Capital Markets lifted their price target on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the company an "outperform" rating in a report on Friday. Stifel Nicolaus upped their price objective on shares of Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$50.50.

Neo Performance Materials Stock Up 6.6%

The company has a debt-to-equity ratio of 41.75, a quick ratio of 1.92 and a current ratio of 1.76. The company has a market capitalization of C$2.05 billion, a PE ratio of -185.71 and a beta of 1.44. The company's 50-day moving average is C$33.68 and its 200 day moving average is C$25.89.

Neo Performance Materials (TSE:NEO - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$215.44 million during the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. As a group, analysts anticipate that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

Neo Performance Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, June 19th. Neo Performance Materials's dividend payout ratio is -120.72%.

About Neo Performance Materials

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials - magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys - are critical to the performance of many everyday products and emerging technologies. Neo's products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.

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