Neo Performance Materials (TSE:NEO) Hits New 12-Month High Following Dividend Announcement

Neo Performance Materials Inc. (TSE:NEO)’s stock price hit a new 52-week high on Monday following a dividend announcement from the company. The company traded as high as C$37.46 and last traded at C$36.47, with a volume of 44839 shares. The stock had previously closed at C$35.08.

The newly announced dividend which will be paid on Monday, June 29th. Investors of record on Monday, June 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 19th. Neo Performance Materials’s payout ratio is presently -120.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NEO shares. Stifel Nicolaus boosted their target price on Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. BMO Capital Markets increased their price target on Neo Performance Materials from C$30.00 to C$38.00 in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$38.00.

Neo Performance Materials Price Performance

The company has a market cap of C$1.67 billion, a PE ratio of -151.62 and a beta of 1.45. The stock has a fifty day moving average price of C$29.42 and a 200-day moving average price of C$23.51. The company has a debt-to-equity ratio of 41.75, a current ratio of 1.76 and a quick ratio of 1.92.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$215.44 million for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%. On average, equities analysts expect that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current year.

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.