Neo Performance Materials (TSE:NEO) Shares Down 0.2% - Time to Sell?

Key Points

• Neo Performance Materials shares slipped 0.2% to C$26.01, with trading volume 47% below the average session volume.
• Analysts remain bullish: the stock has an average “Buy” rating and a consensus price target of C$56.17, substantially above its recent trading price.
• The company reported C$0.73 in quarterly EPS on C$292.32 million in revenue, declared a quarterly dividend of $0.10 per share, and an insider director purchased 2,800 shares.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s share price dropped 0.2% on Monday. The company traded as low as C$25.79 and last traded at C$26.01. 157,182 shares were traded during mid-day trading, a decline of 47% from the average session volume of 299,187 shares. The stock had previously closed at C$26.06.

Analyst Ratings Changes

Several analysts recently commented on NEO shares. Stifel Nicolaus boosted their price target on Neo Performance Materials from C$49.00 to C$55.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. ATB Cormark Capital Markets raised their target price on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the company an "outperform" rating in a research report on Friday, July 10th. Jefferies Financial Group upgraded Neo Performance Materials to a "strong-buy" rating in a research note on Friday, September 25th. Finally, BMO Capital Markets lifted their price objective on shares of Neo Performance Materials from C$43.00 to C$60.00 in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, Neo Performance Materials currently has an average rating of "Buy" and a consensus price target of C$56.17.

Neo Performance Materials Stock Down 0.2%

The stock has a market cap of C$1.20 billion, a price-to-earnings ratio of 2,601.00 and a beta of 1.33. The stock has a 50 day simple moving average of C$31.52 and a 200 day simple moving average of C$31.97. The company has a quick ratio of 1.92, a current ratio of 2.06 and a debt-to-equity ratio of 34.03.

Neo Performance Materials (TSE:NEO - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported C$0.73 EPS for the quarter. Neo Performance Materials had a net margin of 0.15% and a return on equity of 0.21%. The company had revenue of C$292.32 million during the quarter. As a group, analysts expect that Neo Performance Materials Inc. will post 0.68 earnings per share for the current fiscal year.

Neo Performance Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, September 18th. Neo Performance Materials's payout ratio is presently 2,870.19%.

Insiders Place Their Bets

In other news, Director Rahim Suleman bought 2,800 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of C$36.38 per share, with a total value of C$101,864.00. Following the acquisition, the director owned 481,997 shares of the company's stock, valued at approximately C$17,535,050.86. The trade was a 0.58% increase in their position. 22.38% of the stock is owned by insiders.

Neo Performance Materials Company Profile

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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