Neo Performance Materials (TSE:NEO) Stock Price Up 4.3% – Time to Buy?

Neo Performance Materials Inc. (TSE:NEO)’s stock price traded up 4.3% during mid-day trading on Wednesday . The company traded as high as C$17.61 and last traded at C$17.60. 285,835 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 201,234 shares. The stock had previously closed at C$16.88.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Neo Performance Materials from C$22.00 to C$25.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Cormark raised shares of Neo Performance Materials to a “moderate buy” rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Neo Performance Materials currently has an average rating of “Buy” and a consensus target price of C$25.00.

Neo Performance Materials Stock Up 4.3%

The firm has a market cap of C$732.14 million, a PE ratio of -70.40 and a beta of 0.91. The company has a 50-day simple moving average of C$19.02 and a 200-day simple moving average of C$15.45. The company has a debt-to-equity ratio of 10.65, a current ratio of 2.59 and a quick ratio of 1.92.

Neo Performance Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 26th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. Neo Performance Materials’s payout ratio is presently -114.66%.

Insiders Place Their Bets

In other Neo Performance Materials news, insider Wyloo Consolidated Investments Pty Ltd. sold 8,275,311 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of C$20.00, for a total value of C$165,506,220.00. 22.38% of the stock is currently owned by insiders.

About Neo Performance Materials

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.