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

Neo Performance Materials Inc. (TSE:NEO) announced a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors 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 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Tuesday, September 17th.

Neo Performance Materials Price Performance

Shares of NEO opened at C$7.81 on Monday. The stock has a 50 day simple moving average of C$7.91 and a 200 day simple moving average of C$7.13. 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 debt-to-equity ratio of 13.02, a quick ratio of 1.92 and a current ratio of 3.31. The firm has a market capitalization of C$326.07 million, a PE ratio of 86.78 and a beta of 1.39.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NEO. 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 report on Wednesday, June 19th. Canaccord Genuity Group lifted their price objective on shares of Neo Performance Materials from C$11.00 to C$12.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Cormark increased their target price on shares of Neo Performance Materials from C$12.00 to C$12.50 in a report on Wednesday, August 21st.

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.