Neo Performance Materials (TSE:NEO) Hits New 52-Week High After Analyst Upgrade

Neo Performance Materials Inc. (TSE:NEO)’s share price reached a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$43.00 to C$60.00. The company traded as high as C$43.90 and last traded at C$43.85, with a volume of 28672 shares trading hands. The stock had previously closed at C$41.82.

A number of other equities analysts also recently issued reports on NEO. ATB Cormark Capital Markets raised their price objective 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. Stifel Nicolaus upped their target price on shares of Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$50.50.

Neo Performance Materials Trading Up 6.6%

The stock has a 50 day moving average of C$33.68 and a 200-day moving average of C$25.89. The company has a market capitalization of C$2.05 billion, a P/E ratio of -185.71 and a beta of 1.44. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75.

Neo Performance Materials (TSE:NEO) last released its 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 company had revenue of C$215.44 million during the quarter. On average, research analysts predict that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

Neo Performance Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Neo Performance Materials’s dividend payout ratio is -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.