Neo Performance Materials (TSE:NEO) PT Lowered to C$23.00 at Raymond James

Neo Performance Materials (TSE:NEOGet Rating) had its price target cut by Raymond James from C$25.00 to C$23.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock. Raymond James also issued estimates for Neo Performance Materials’ Q3 2022 earnings at $0.26 EPS, Q4 2022 earnings at $0.28 EPS, FY2022 earnings at $1.74 EPS, Q1 2023 earnings at $0.37 EPS, Q2 2023 earnings at $0.39 EPS, Q3 2023 earnings at $0.43 EPS, Q4 2023 earnings at $0.46 EPS and FY2023 earnings at $1.65 EPS.

NEO has been the topic of several other reports. Scotiabank lowered their price target on shares of Neo Performance Materials from C$22.00 to C$21.00 in a report on Monday, August 29th. Stifel Nicolaus cut their target price on shares of Neo Performance Materials from C$19.75 to C$17.00 in a research report on Monday.

Neo Performance Materials Price Performance

Shares of TSE:NEO opened at C$11.18 on Monday. The company’s fifty day moving average is C$13.54 and its two-hundred day moving average is C$13.60. The company has a quick ratio of 1.44, a current ratio of 3.67 and a debt-to-equity ratio of 4.18. Neo Performance Materials has a 12-month low of C$10.48 and a 12-month high of C$22.85. The company has a market cap of C$505.21 million and a P/E ratio of 6.69.

Neo Performance Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Tuesday, September 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 19th. This represents a $0.40 annualized dividend and a yield of 3.58%. Neo Performance Materials’s dividend payout ratio is 18.83%.

About Neo Performance Materials

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Neo Performance Materials Inc manufactures and sells 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.

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