Neo Performance Materials (TSE:NEO) Reaches New 52-Week High – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$8.81 and last traded at C$8.52, with a volume of 35024 shares changing hands. The stock had previously closed at C$8.65.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEO. Cormark boosted their price target on shares of Neo Performance Materials from C$12.00 to C$12.50 in a research report on Wednesday, August 21st. Stifel Nicolaus boosted their target price on shares of Neo Performance Materials from C$14.50 to C$15.00 and gave the company a “buy” rating in a report on Thursday, October 17th.

Neo Performance Materials Stock Performance

The stock has a market capitalization of C$345.27 million, a price-to-earnings ratio of 91.89 and a beta of 1.38. The company has a quick ratio of 1.92, a current ratio of 3.31 and a debt-to-equity ratio of 13.02. The company has a 50 day simple moving average of C$8.07 and a 200-day simple moving average of C$7.91.

Neo Performance Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.84%. The ex-dividend date is Tuesday, December 17th. Neo Performance Materials’s dividend payout ratio is presently 444.44%.

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.