Neo Performance Materials Inc. Declares Quarterly Dividend of $0.10 (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEO) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.10 per share on Friday, September 27th. This represents a $0.40 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Tuesday, September 17th.

Neo Performance Materials Stock Performance

Shares of NEO stock opened at C$7.81 on Monday. Neo Performance Materials has a 52 week low of C$5.50 and a 52 week high of C$8.85. The company has a market capitalization of C$326.07 million, a price-to-earnings ratio of 86.78 and a beta of 1.39. The company has a 50-day simple moving average of C$7.91 and a 200 day simple moving average of C$7.13. The company has a debt-to-equity ratio of 13.02, a quick ratio of 1.92 and a current ratio of 3.31.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings data on Friday, August 9th. The company reported C$0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.05 by C$0.11. The company had revenue of C$147.15 million during the quarter, compared to analysts’ expectations of C$169.30 million. Neo Performance Materials had a return on equity of 0.85% and a net margin of 0.69%. On average, sell-side analysts predict that Neo Performance Materials will post 0.6773356 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NEO shares. Stifel Nicolaus upgraded Neo Performance Materials from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$7.50 to C$13.00 in a research report on Wednesday, June 19th. Cormark lifted 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. Finally, Canaccord Genuity Group increased their target price on shares of Neo Performance Materials from C$11.00 to C$12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th.

Neo Performance Materials Company Profile

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.