Neo Performance Materials (TSE:NEO) Stock Price Down 0.1% – What’s Next?

Neo Performance Materials Inc. (TSE:NEO)’s share price dropped 0.1% during trading on Thursday . The stock traded as low as C$7.93 and last traded at C$7.97. Approximately 18,431 shares changed hands during trading, a decline of 75% from the average daily volume of 72,342 shares. The stock had previously closed at C$7.98.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Neo Performance Materials from C$11.00 to C$12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Cormark raised their price target on shares of Neo Performance Materials from C$12.00 to C$12.50 in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus raised their price target on shares of Neo Performance Materials from C$14.50 to C$15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

Neo Performance Materials Price Performance

The company has a current ratio of 3.31, a quick ratio of 1.92 and a debt-to-equity ratio of 13.02. The company has a market capitalization of C$332.75 million, a P/E ratio of 88.56 and a beta of 1.38. The business’s fifty day moving average price is C$8.01 and its 200-day moving average price is C$7.77.

Neo Performance Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.02%. The ex-dividend date was Tuesday, September 17th. Neo Performance Materials’s dividend payout ratio is presently 444.44%.

About Neo Performance Materials

Neo Performance Materials Inc engages in the manufacture 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 and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets; and bonded magnets.