Stifel Nicolaus Cuts Neo Performance Materials (TSE:NEO) Price Target to C$17.00

Neo Performance Materials (TSE:NEOGet Rating) had its target price reduced by Stifel Nicolaus from C$19.75 to C$17.00 in a research report sent to investors on Monday morning, BayStreet.CA reports.

Separately, Scotiabank reduced their price target on shares of Neo Performance Materials from C$22.00 to C$21.00 in a research note on Monday, August 29th.

Neo Performance Materials Trading Up 0.1 %

Shares of NEO opened at C$12.41 on Monday. Neo Performance Materials has a 1-year low of C$10.48 and a 1-year high of C$22.85. The firm has a market capitalization of C$504.86 million and a price-to-earnings ratio of 7.43. The firm’s 50-day moving average price is C$13.55 and its 200-day moving average price is 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.

Neo Performance Materials Dividend Announcement

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

Insider Buying and Selling at Neo Performance Materials

In other news, Senior Officer Rahim Suleman purchased 9,200 shares of the firm’s stock in a transaction on Thursday, June 23rd. The stock was acquired at an average cost of C$11.25 per share, with a total value of C$103,500.00. Following the completion of the transaction, the insider now owns 122,256 shares in the company, valued at approximately C$1,375,380.

About Neo Performance Materials

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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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