Neo Performance Materials (TSE:NEO) Shares Up 1.2% - What's Next?

Key Points

• Neo Performance Materials shares rose 1.2% to C$31.91 in mid-day trading, with volume slightly below its average session level.
• Analysts remain bullish: BMO, ATB Cormark, and Stifel Nicolaus raised their price targets, while the four-analyst consensus rating is “Buy” with a C$56.17 target.
• The company reported C$292.32 million in quarterly revenue and C$0.73 earnings per share, declared a C$0.10 quarterly dividend, and saw director Rahim Suleman purchase 2,800 shares.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report) shot up 1.2% on Tuesday . The stock traded as high as C$32.83 and last traded at C$31.91. 264,802 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 299,428 shares. The stock had previously closed at C$31.52.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NEO shares. BMO Capital Markets raised their target price on shares of Neo Performance Materials from C$43.00 to C$60.00 in a research note on Monday, July 13th. 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 stock an "outperform" rating in a report on Friday, July 10th. Finally, Stifel Nicolaus upped their price objective on shares of Neo Performance Materials from C$49.00 to C$55.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$56.17.

Neo Performance Materials Stock Performance

The company has a market capitalization of C$1.47 billion, a price-to-earnings ratio of 3,191.00 and a beta of 1.46. The company has a 50 day moving average price of C$36.46 and a 200 day moving average price of C$30.85. The company has a debt-to-equity ratio of 34.03, a quick ratio of 1.92 and a current ratio of 2.06.

Neo Performance Materials (TSE:NEO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported C$0.73 earnings per share for the quarter. Neo Performance Materials had a return on equity of 0.21% and a net margin of 0.15%.The business had revenue of C$292.32 million for the quarter. Equities research analysts predict that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current fiscal year.

Neo Performance Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 29th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.40 annualized dividend and a yield of 1.3%. Neo Performance Materials's dividend payout ratio (DPR) is presently 2,870.19%.

Insider Buying and Selling

In other Neo Performance Materials news, Director Rahim Suleman acquired 2,800 shares of the stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of C$36.38 per share, for a total transaction of C$101,864.00. Following the completion of the acquisition, the director owned 481,997 shares in the company, valued at approximately C$17,535,050.86. This represents a 0.58% increase in their position. Company insiders own 22.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.