Neo Performance Materials (TSE:NEO) Hits New 52-Week High – Still a Buy?

Neo Performance Materials Inc. (TSE:NEO) shares hit a new 52-week high on Tuesday . The company traded as high as C$38.08 and last traded at C$37.85, with a volume of 305911 shares. The stock had previously closed at C$36.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. ATB Cormark Capital Markets raised their price objective on Neo Performance Materials from C$37.50 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Finally, Stifel Nicolaus lifted their price target on Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$39.67.

Neo Performance Materials Stock Performance

The business’s 50 day simple moving average is C$32.20 and its two-hundred day simple moving average is C$25.03. The firm has a market capitalization of C$1.77 billion, a PE ratio of -160.04 and a beta of 1.44. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75.

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

Neo Performance Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders 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 yield of 1.0%. Neo Performance Materials’s dividend payout ratio is presently -120.72%.

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.