Neo Performance Materials (TSE:NEO) Stock Price Down 2.7% – What’s Next?

Neo Performance Materials Inc. (TSE:NEO)’s stock price dropped 2.7% during trading on Friday . The company traded as low as C$16.09 and last traded at C$16.19. Approximately 266,121 shares were traded during mid-day trading, an increase of 33% from the average daily volume of 199,392 shares. The stock had previously closed at C$16.64.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NEO. Cormark raised Neo Performance Materials to a “moderate buy” rating in a report on Wednesday, September 10th. Stifel Nicolaus increased their price objective on Neo Performance Materials from C$22.00 to C$25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Neo Performance Materials presently has an average rating of “Buy” and a consensus price target of C$25.00.

Neo Performance Materials Trading Down 2.7%

The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 10.65. The company’s fifty day moving average price is C$18.27 and its two-hundred day moving average price is C$16.55. The firm has a market cap of C$673.49 million, a PE ratio of -101.19 and a beta of 0.96.

Neo Performance Materials (TSE:NEO) last posted its quarterly earnings results on Friday, November 14th. The company reported C$0.20 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative net margin of 0.48% and a negative return on equity of 0.53%. The firm had revenue of C$122.21 million during the quarter. As a group, sell-side analysts forecast that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current fiscal year.

Neo Performance Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 26th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Neo Performance Materials’s dividend payout ratio (DPR) is currently -177.80%.

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 owned by corporate insiders.

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.