Neo Performance Materials (TSE:NEO) Sets New 12-Month High – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO)’s stock price hit a new 52-week high on Tuesday . The company traded as high as C$38.08 and last traded at C$37.85, with a volume of 305911 shares traded. The stock had previously closed at C$36.11.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. ATB Cormark Capital Markets upped their price objective on Neo Performance Materials from C$37.50 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. BMO Capital Markets boosted their price objective on shares of Neo Performance Materials from C$30.00 to C$38.00 in a research note on Thursday, May 14th. Finally, Stifel Nicolaus increased their target price on shares of Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$39.67.

Neo Performance Materials Trading Up 6.4%

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 50 day moving average of C$32.20 and a two-hundred day moving average of C$25.03. The stock has a market cap of C$1.77 billion, a PE ratio of -160.04 and a beta of 1.44.

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

Neo Performance Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 19th. Neo Performance Materials’s payout ratio is currently -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.