Neo Performance Materials (TSE:NEO) Stock Price Down 9.1% – Here’s Why

Neo Performance Materials Inc. (TSE:NEO) was down 9.1% during trading on Tuesday . The company traded as low as C$40.28 and last traded at C$40.28. Approximately 229,572 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 285,439 shares. The stock had previously closed at C$44.33.

Wall Street Analyst Weigh In

A number of research firms have weighed in 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 company an “outperform” rating in a research note on Friday, July 10th. Stifel Nicolaus upped their price target on Neo Performance Materials from C$49.00 to C$55.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets boosted their target price on Neo Performance Materials from C$43.00 to C$60.00 in a research report on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$56.17.

Neo Performance Materials Stock Down 6.3%

The company has a quick ratio of 1.92, a current ratio of 1.76 and a debt-to-equity ratio of 41.75. The company has a market cap of C$1.69 billion, a PE ratio of -153.12 and a beta of 1.44. The company’s fifty day moving average is C$36.65 and its 200-day moving average is C$29.07.

Neo Performance Materials (TSE:NEO) last announced its earnings results on Tuesday, August 11th. The company reported C$0.73 earnings per share for the quarter. The business had revenue of C$292.32 million during 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 predict that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

Neo Performance Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 19th. Neo Performance Materials’s dividend payout ratio (DPR) is presently -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.