Neo Performance Materials Inc. (TSE:NEO) to Post Q4 2024 Earnings of $0.26 Per Share, Raymond James Forecasts

Neo Performance Materials Inc. (TSE:NEO) – Research analysts at Raymond James increased their Q4 2024 earnings per share (EPS) estimates for Neo Performance Materials in a report released on Tuesday, November 14th. Raymond James analyst F. Bastien now forecasts that the company will post earnings per share of $0.26 for the quarter, up from their prior estimate of $0.25. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.63 per share.

Several other brokerages have also commented on NEO. Stifel Nicolaus cut their price objective on Neo Performance Materials from C$9.50 to C$9.00 and set a “hold” rating for the company in a report on Tuesday. Canaccord Genuity Group cut their price target on shares of Neo Performance Materials from C$13.00 to C$11.00 and set a “buy” rating for the company in a research note on Tuesday.

Neo Performance Materials Price Performance

Shares of TSE NEO opened at C$6.79 on Friday. The stock’s 50-day simple moving average is C$7.57 and its two-hundred day simple moving average is C$8.22. Neo Performance Materials has a twelve month low of C$6.70 and a twelve month high of C$12.15. The firm has a market capitalization of C$288.03 million, a P/E ratio of -14.15 and a beta of 1.40. The company has a quick ratio of 1.92, a current ratio of 3.33 and a debt-to-equity ratio of 6.88.

Insiders Place Their Bets

In related news, Director Rahim Suleman bought 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average cost of C$6.89 per share, for a total transaction of C$103,350.00. In other Neo Performance Materials news, Senior Officer Jonathan Baksh bought 10,825 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average price of C$6.91 per share, for a total transaction of C$74,807.25. Also, Director Rahim Suleman purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price of C$6.89 per share, for a total transaction of C$103,350.00. 20.04% of the stock is currently owned by insiders.

Neo Performance Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Monday, December 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, December 15th. Neo Performance Materials’s payout ratio is presently -83.33%.

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.