Stifel Nicolaus Forecasts Strong Price Appreciation for Neo Performance Materials (TSE:NEO) Stock

Neo Performance Materials (TSE:NEO) had its target price upped by Stifel Nicolaus from C$17.50 to C$22.00 in a report published on Wednesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Neo Performance Materials Trading Down 8.3%

NEO opened at C$16.74 on Wednesday. Neo Performance Materials has a 1-year low of C$7.18 and a 1-year high of C$18.26. The company has a current ratio of 2.59, a quick ratio of 1.92 and a debt-to-equity ratio of 10.65. The company has a market cap of C$489.93 million, a P/E ratio of -219.85 and a beta of 1.38. The company has a fifty day moving average price of C$14.81 and a two-hundred day moving average price of C$11.15.

Neo Performance Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 27th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. Neo Performance Materials’s payout ratio is presently -525.33%.

Insider Activity at Neo Performance Materials

In other Neo Performance Materials news, Director Rahim Suleman bought 5,100 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of C$9.87 per share, with a total value of C$50,344.14. 22.38% of the stock is currently owned by insiders.

Neo Performance Materials Company Profile

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets.