Neo Performance Materials (TSE:NEO) Upgraded by Stifel Nicolaus to Buy

Stifel Nicolaus upgraded shares of Neo Performance Materials (TSE:NEO) from a hold rating to a buy rating in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have C$13.00 price target on the stock, up from their previous price target of C$7.50.

Separately, Raymond James decreased their price objective on Neo Performance Materials from C$13.00 to C$11.00 and set an outperform rating for the company in a report on Monday, March 18th.

Neo Performance Materials Trading Up 10.7 %

TSE:NEO opened at C$8.16 on Wednesday. Neo Performance Materials has a 12 month low of C$5.50 and a 12 month high of C$9.50. The company has a current ratio of 3.08, a quick ratio of 1.92 and a debt-to-equity ratio of 6.76. The stock has a market capitalization of C$340.68 million, a price-to-earnings ratio of -31.38 and a beta of 1.44. The firm has a fifty day simple moving average of C$6.46 and a two-hundred day simple moving average of C$6.92.

Neo Performance Materials (TSE:NEO) last issued its earnings results on Friday, May 10th. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.05 by C($0.04). Neo Performance Materials had a negative net margin of 1.48% and a negative return on equity of 1.84%. The firm had revenue of C$164.60 million during the quarter, compared to analyst estimates of C$177.00 million. Analysts expect that Neo Performance Materials will post 0.3828955 EPS for the current fiscal year.

Neo Performance Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 27th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.90%. Neo Performance Materials’s dividend payout ratio is presently -153.85%.

Insider Activity at Neo Performance Materials

In related news, Senior Officer Kevin Morris acquired 7,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of C$6.09 per share, with a total value of C$42,630.00. In other news, Senior Officer Kevin Morris acquired 7,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of C$6.09 per share, with a total value of C$42,630.00. Also, Director Yadin Rozov bought 8,900 shares of Neo Performance Materials stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of C$6.70 per share, with a total value of C$59,630.00. In the last quarter, insiders have acquired 16,500 shares of company stock valued at $105,824. 21.76% of the stock is owned by corporate insiders.

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.