Neo Performance Materials (TSE:NEO) Hits New 12-Month High – Should You Buy?

Shares of Neo Performance Materials Inc. (TSE:NEO) hit a new 52-week high during trading on Thursday . The company traded as high as C$8.81 and last traded at C$8.52, with a volume of 35024 shares traded. The stock had previously closed at C$8.65.

Analyst Ratings Changes

NEO has been the topic of a number of research reports. Stifel Nicolaus upped their target price on shares of Neo Performance Materials from C$14.50 to C$15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Cormark raised their price objective on shares of Neo Performance Materials from C$12.00 to C$12.50 in a research note on Wednesday, August 21st.

Neo Performance Materials Stock Performance

The stock’s 50 day moving average is C$8.07 and its two-hundred day moving average is C$7.91. The company has a current ratio of 3.31, a quick ratio of 1.92 and a debt-to-equity ratio of 13.02. The stock has a market capitalization of C$345.27 million, a price-to-earnings ratio of 91.89 and a beta of 1.38.

Neo Performance Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Tuesday, December 17th. Neo Performance Materials’s dividend payout ratio (DPR) is presently 444.44%.

About Neo Performance Materials

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; and bonded magnets.