Neo Performance Materials (TSE:NEO) Trading Down 1.4% – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO) dropped 1.4% on Monday . The company traded as low as C$7.85 and last traded at C$7.87. Approximately 148,320 shares changed hands during mid-day trading, an increase of 109% from the average daily volume of 71,022 shares. The stock had previously closed at C$7.98.

Analyst Upgrades and Downgrades

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

Neo Performance Materials Trading Down 1.4 %

The company has a debt-to-equity ratio of 13.02, a current ratio of 3.31 and a quick ratio of 1.92. The firm’s 50 day moving average price is C$8.05 and its 200 day moving average price is C$8.01. The stock has a market capitalization of C$328.57 million, a P/E ratio of 87.44 and a beta of 1.38.

Neo Performance Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 27th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.08%. The ex-dividend date was Tuesday, December 17th. Neo Performance Materials’s dividend payout ratio (DPR) is currently 444.44%.

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.