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Neo Performance Materials (TSE:NEO) Trades Down 2.4%

Neo Performance Materials (TSE:NEO) Trades Down 2.4%


Neo Performance Materials Inc. (TSE:NEOGet a Free Report) fell 2.4% during trading on Wednesday. The stock fell to a low of C$8.16 and was last traded at C$8.18. 46,854 shares were traded during the trading, a 45% decline from the average session volume of 84,565 shares. The stock had previously closed at C$8.38.

Analyst Rating Changes

NEO has been the subject of several research reports recently. Stifel Nicolaus upgraded Neo Performance Materials from a “hold” rating to a “buy” rating and raised their price target for the company from C$7.50 to C$13.00 in a research note on Wednesday, June 19. Raymond James lowered their price target on Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research note on Monday, March 18.

Read Our Latest Stock Report on Neo Performance Materials

Neo Performance Materials Price Performance

The company’s 50-day moving average is C$7.19 and its 200-day moving average is C$7.03. The company’s market cap is C$341.52 million, its P/E ratio is -31.46 and its beta is 1.44. The company’s current ratio is 3.08, its underlying ratio is 1.92 and its debt-to-equity ratio is 6.76.

Neo Performance Materials (TSE:NEOGet a Free Report) released its latest earnings results on Friday, May 10. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.04). The company had revenue of C$164.60 million for the quarter, compared to the consensus estimate of C$177.00 million. Neo Performance Materials had a negative net margin of 1.48% and a negative return on equity of 1.84%. On average, sell-side analysts predict that Neo Performance Materials Inc. will report 0.3828955 EPS for the current year.

Neo Performance Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27. A dividend of $0.10 per share was paid to shareholders of record on Thursday, June 27. The ex-dividend date for this dividend was Tuesday, June 18. This translates to an annualized dividend of $0.40 and a dividend yield of 4.89%. Neo Performance Materials’s payout ratio is -153.85%.

Insider Event

In other Neo Performance Materials news, Director Yadin Rozov bought 8,900 shares of the stock in a transaction that recorded on Tuesday, May 28. The stock was purchased at an average price of C$6.70 per share, for a total value of C$59,630.00. Company insiders own 21.76% of the company’s stock.

About Neo Performance Materials

(Get a Free Report)

Neo Performance Materials Inc. is engaged in the production and sale of rare earth, magnetic powders, magnets and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals & Oxides, and Rare Metals. The Magnequench segment produces magnetic powders used in bonded and hot-deformed full-density neodymium-iron-boron magnets and bonded magnets.

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