Neo Performance Materials (TSE:NEO) Given New C$23.00 Price Target at Raymond James

Neo Performance Materials (TSE:NEOGet Rating) had its price target cut by Raymond James from C$25.00 to C$23.00 in a research report sent to investors on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also weighed in on NEO. Stifel Nicolaus dropped their price target on shares of Neo Performance Materials from C$19.75 to C$17.00 in a research report on Monday. Scotiabank dropped their price target on shares of Neo Performance Materials from C$22.00 to C$21.00 in a research report on Monday, August 29th.

Neo Performance Materials Stock Performance

Shares of TSE NEO opened at C$12.41 on Monday. The firm has a 50 day moving average of C$13.55 and a 200 day moving average of C$13.65. The company has a current ratio of 3.67, a quick ratio of 1.44 and a debt-to-equity ratio of 4.18. The firm has a market capitalization of C$504.86 million and a price-to-earnings ratio of 7.43. Neo Performance Materials has a 12-month low of C$10.48 and a 12-month high of C$22.85.

Neo Performance Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Tuesday, September 20th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, September 19th. Neo Performance Materials’s dividend payout ratio (DPR) is presently 18.83%.

Insider Transactions at Neo Performance Materials

In related news, Senior Officer Rahim Suleman bought 9,200 shares of the stock in a transaction dated Thursday, June 23rd. The shares were purchased at an average price of C$11.25 per share, with a total value of C$103,500.00. Following the completion of the acquisition, the insider now owns 122,256 shares of the company’s stock, valued at C$1,375,380.

Neo Performance Materials Company Profile

(Get Rating)

Neo Performance Materials Inc manufactures and sells 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.

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