Neo Performance Materials (TSE:NEO) Shares Up 1.2% – Still a Buy?

Shares of Neo Performance Materials Inc. (TSE:NEO) were up 1.2% during trading on Tuesday . The company traded as high as C$32.83 and last traded at C$31.91. 264,802 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 299,428 shares. The stock had previously closed at C$31.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NEO shares. Stifel Nicolaus boosted their price target on shares of Neo Performance Materials from C$49.00 to C$55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. BMO Capital Markets raised their price objective on shares of Neo Performance Materials from C$43.00 to C$60.00 in a research note on Monday, July 13th. Finally, 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. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$56.17.

Neo Performance Materials Stock Down 3.2%

The firm has a market cap of C$1.38 billion, a P/E ratio of 2,995.00 and a beta of 1.46. The firm’s 50 day moving average is C$36.33 and its two-hundred day moving average is C$30.92. The company has a current ratio of 2.06, a quick ratio of 1.92 and a debt-to-equity ratio of 34.03.

Neo Performance Materials (TSE:NEO) last issued its earnings results on Tuesday, August 11th. The company reported C$0.73 EPS for the quarter. The firm had revenue of C$292.32 million during the quarter. Neo Performance Materials had a net margin of 0.15% and a return on equity of 0.21%. As a group, research analysts anticipate that Neo Performance Materials Inc. will post 0.6753356 EPS for the current fiscal year.

Neo Performance Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 29th were given a $0.10 dividend. The ex-dividend date was Friday, June 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. Neo Performance Materials’s dividend payout ratio is currently 2,870.19%.

Insider Buying and Selling

In other Neo Performance Materials news, Director Rahim Suleman acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of C$36.38 per share, with a total value of C$101,864.00. Following the purchase, the director owned 481,997 shares of the company’s stock, valued at C$17,535,050.86. This represents a 0.58% increase in their position. Insiders own 22.38% of the company’s stock.

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.