Neo Performance Materials (TSE:NEO) Trading Down 4.9% – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO)’s stock price fell 4.9% during mid-day trading on Tuesday . The company traded as low as C$16.62 and last traded at C$16.71. 108,340 shares were traded during trading, a decline of 32% from the average session volume of 158,819 shares. The stock had previously closed at C$17.57.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their price objective on Neo Performance Materials from C$17.50 to C$22.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$22.00.

Neo Performance Materials Stock Performance

The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59. The company has a market capitalization of C$695.12 million, a P/E ratio of -66.84 and a beta of 1.09. The business has a 50 day moving average of C$16.25 and a 200-day moving average of C$12.00.

Neo Performance Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 27th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. Neo Performance Materials’s dividend payout ratio (DPR) is presently -114.66%.

Neo Performance Materials Company Profile

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets.