Neo Performance Materials (TSE:NEO) Hits New 52-Week High – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$25.12 and last traded at C$25.05, with a volume of 84401 shares traded. The stock had previously closed at C$23.10.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NEO shares. BMO Capital Markets set a C$30.00 price objective on Neo Performance Materials and gave the company an “outperform” rating in a research note on Friday, February 20th. Stifel Nicolaus increased their target price on Neo Performance Materials from C$22.50 to C$23.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$26.50.

Neo Performance Materials Price Performance

The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 10.65. The company has a 50 day simple moving average of C$19.12 and a 200-day simple moving average of C$18.41. The stock has a market cap of C$1.15 billion, a price-to-earnings ratio of -173.00 and a beta of 0.88.

Neo Performance Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 29th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, December 19th. This represents a $0.40 annualized dividend and a yield of 1.4%. Neo Performance Materials’s dividend payout ratio (DPR) is -177.80%.

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. The Chemicals & Oxides segment manufactures and distributes a broad range of advanced industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium.