Neo Performance Materials (TSE:NEO) Stock Price Up 10.1% – Still a Buy?

Neo Performance Materials Inc. (TSE:NEO) rose 10.1% on Thursday . The company traded as high as C$43.03 and last traded at C$41.70. Approximately 430,081 shares changed hands during mid-day trading, an increase of 51% from the average session volume of 284,188 shares. The stock had previously closed at C$37.89.

Wall Street Analysts Forecast Growth

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

Neo Performance Materials Stock Performance

The stock has a market capitalization of C$1.90 billion, a price-to-earnings ratio of -172.00 and a beta of 1.44. The company has a debt-to-equity ratio of 41.75, a current ratio of 1.76 and a quick ratio of 1.92. The stock has a 50-day moving average of C$32.72 and a 200 day moving average of C$25.35.

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. The company had revenue of C$215.44 million for the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. On average, analysts expect that Neo Performance Materials Inc. will post 0.6753356 EPS for the current 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 paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 19th. Neo Performance Materials’s payout ratio is -120.72%.

Neo Performance Materials Company Profile

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.