Neo Performance Materials (TSE:NEO) Trading Down 4.9% - Here's What Happened

Key Points

• Neo Performance Materials' stock fell by 4.9%, trading at C$16.71 after a previous close of C$17.57, with trading volume down by 32% compared to the average.
• Stifel Nicolaus increased their price target for Neo Performance Materials to C$22.00 and maintained a "buy" rating, reflecting a consensus rating of "Buy" among analysts.
• The company recently declared a quarterly dividend of $0.10 with a dividend yield of 2.4%, although its dividend payout ratio is currently at -114.66%.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s stock price fell 4.9% during mid-day trading on Tuesday . The company traded as low as C$16.62 and last traded at C$16.71. 108,340 shares were traded during trading, a decline of 32% from the average session volume of 158,819 shares. The stock had previously closed at C$17.57.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their price objective on Neo Performance Materials from C$17.50 to C$22.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$22.00.

Neo Performance Materials Stock Performance

The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59. The company has a market capitalization of C$695.12 million, a P/E ratio of -66.84 and a beta of 1.09. The business has a 50 day moving average of C$16.25 and a 200-day moving average of C$12.00.

Neo Performance Materials Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. Neo Performance Materials's dividend payout ratio (DPR) is presently -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.