Neo Performance Materials (TSE:NEO) Stock Price Down 9.1% – Time to Sell?

Neo Performance Materials Inc. (TSE:NEO)’s share price traded down 9.1% during trading on Tuesday . The company traded as low as C$40.28 and last traded at C$40.28. Approximately 229,572 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 285,439 shares. The stock had previously closed at C$44.33.

Analyst Upgrades and Downgrades

NEO has been the subject of a number of research reports. Stifel Nicolaus increased their price objective on Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday, May 13th. BMO Capital Markets boosted their target price on Neo Performance Materials from C$43.00 to C$60.00 in a research note on Monday, July 13th. Finally, ATB Cormark Capital Markets upped their price target on Neo Performance Materials from C$43.00 to C$53.50 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$50.50.

Neo Performance Materials Trading Down 12.0%

The company has a debt-to-equity ratio of 41.75, a current ratio of 1.76 and a quick ratio of 1.92. The business’s 50-day moving average is C$36.54 and its two-hundred day moving average is C$28.81. The firm has a market cap of C$1.80 billion, a P/E ratio of -162.62 and a beta of 1.44.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings results on Tuesday, August 11th. The company reported C$0.73 EPS for the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. The firm had revenue of C$292.32 million for the quarter. As a group, analysts predict that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current fiscal year.

Neo Performance Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, June 19th. Neo Performance Materials’s dividend payout ratio is presently -120.72%.

Neo Performance Materials Company Profile

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.