Neo Performance Materials (TSE:NEO) Shares Down 2.4%

Neo Performance Materials Inc. (TSE:NEO)’s stock price fell 2.4% during mid-day trading on Wednesday . The company traded as low as C$8.16 and last traded at C$8.18. 46,854 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 84,565 shares. The stock had previously closed at C$8.38.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James dropped their price target on Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Stifel Nicolaus upgraded Neo Performance Materials from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$7.50 to C$13.00 in a research note on Wednesday, June 19th.

Neo Performance Materials Price Performance

The firm has a market cap of C$346.53 million, a P/E ratio of -31.92 and a beta of 1.44. The business’s fifty day simple moving average is C$7.29 and its 200-day simple moving average is C$7.04. The company has a current ratio of 3.08, a quick ratio of 1.92 and a debt-to-equity ratio of 6.76.

Neo Performance Materials (TSE:NEO) last posted its earnings results on Friday, May 10th. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.04). Neo Performance Materials had a negative net margin of 1.48% and a negative return on equity of 1.84%. The company had revenue of C$164.60 million for the quarter, compared to analysts’ expectations of C$177.00 million. As a group, analysts forecast that Neo Performance Materials Inc. will post 0.3828955 EPS for the current fiscal year.

Neo Performance Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 27th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Tuesday, June 18th. Neo Performance Materials’s dividend payout ratio is presently -153.85%.

Insider Activity

In other Neo Performance Materials news, Director Yadin Rozov bought 8,900 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of C$6.70 per share, for a total transaction of C$59,630.00. Company insiders own 21.76% of the company’s stock.

Neo Performance Materials Company Profile

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.