Neo Performance Materials (TSE:NEO) Sets New 12-Month High – Here’s Why

Shares of Neo Performance Materials Inc. (TSE:NEO) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$9.40 and last traded at C$9.34, with a volume of 197948 shares trading hands. The stock had previously closed at C$8.53.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lifted their price objective on shares of Neo Performance Materials from C$14.50 to C$15.00 and gave the company a “buy” rating in a report on Thursday, October 17th.

Neo Performance Materials Trading Up 10.8 %

The company has a market capitalization of C$394.54 million, a price-to-earnings ratio of 105.00 and a beta of 1.38. The company has a quick ratio of 1.92, a current ratio of 3.31 and a debt-to-equity ratio of 13.02. The company’s 50 day simple moving average is C$8.02 and its two-hundred day simple moving average is C$7.98.

Neo Performance Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 27th were paid a $0.10 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.40 annualized dividend and a yield of 4.23%. Neo Performance Materials’s dividend payout ratio (DPR) is 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.