Neo Performance Materials (TSE:NEO) Shares Down 3.6% – Time to Sell?

Neo Performance Materials Inc. (TSE:NEO) traded down 3.6% on Tuesday . The stock traded as low as C$24.30 and last traded at C$24.81. 201,602 shares traded hands during trading, a decline of 21% from the average session volume of 254,644 shares. The stock had previously closed at C$25.73.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NEO shares. Stifel Nicolaus raised their price objective on Neo Performance Materials from C$22.50 to C$23.00 and gave the company a “buy” rating in a research note on Friday, February 6th. BMO Capital Markets set a C$30.00 target price on Neo Performance Materials and gave the stock an “outperform” rating in a research report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$26.50.

Neo Performance Materials Stock Down 3.6%

The company has a debt-to-equity ratio of 22.00, a current ratio of 2.24 and a quick ratio of 1.92. The stock has a market cap of C$1.03 billion, a price-to-earnings ratio of -155.06 and a beta of 1.25. The firm has a 50 day simple moving average of C$21.94 and a two-hundred day simple moving average of C$19.29.

Neo Performance Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, December 19th. Neo Performance Materials’s dividend payout ratio is presently -177.80%.

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. The Chemicals & Oxides segment manufactures and distributes a broad range of advanced industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium.