Cormark Research Analysts Increase Earnings Estimates for Neo Performance Materials Inc. (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEO) – Equities research analysts at Cormark increased their Q4 2023 earnings per share estimates for shares of Neo Performance Materials in a research note issued on Monday, November 13th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $0.18 per share for the quarter, up from their previous forecast of $0.16. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.83 per share. Cormark also issued estimates for Neo Performance Materials’ Q1 2024 earnings at $0.23 EPS, Q2 2024 earnings at $0.26 EPS, Q3 2024 earnings at $0.28 EPS, Q4 2024 earnings at $0.26 EPS and FY2024 earnings at $1.04 EPS.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus cut their target price on shares of Neo Performance Materials from C$9.50 to C$9.00 and set a “hold” rating on the stock in a research note on Tuesday. Raymond James reduced their target price on Neo Performance Materials from C$14.00 to C$13.00 in a report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on Neo Performance Materials from C$13.00 to C$11.00 and set a “buy” rating for the company in a report on Tuesday.

Neo Performance Materials Stock Down 0.3 %

Shares of TSE:NEO opened at C$6.87 on Wednesday. The firm has a market cap of C$305.99 million, a PE ratio of -9.68 and a beta of 1.38. The company has a fifty day simple moving average of C$7.61 and a 200 day simple moving average of C$8.23. The company has a current ratio of 3.61, a quick ratio of 1.92 and a debt-to-equity ratio of 7.00. Neo Performance Materials has a 12-month low of C$6.70 and a 12-month high of C$12.15.

Neo Performance Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 29th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 5.82%. Neo Performance Materials’s dividend payout ratio is currently -56.34%.

Insider Buying and Selling

In other news, Director Rahim Suleman acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average price of C$6.89 per share, with a total value of C$103,350.00. In other Neo Performance Materials news, Senior Officer Jonathan Baksh purchased 10,825 shares of Neo Performance Materials stock in a transaction on Wednesday, November 15th. The stock was bought at an average price of C$6.91 per share, for a total transaction of C$74,807.25. Also, Director Rahim Suleman acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of C$6.89 per share, for a total transaction of C$103,350.00. 20.04% of the stock is owned by company insiders.

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.