Neo Performance Materials (TSE:NEO) Trading Up 16.8% – Here’s Why

Neo Performance Materials Inc. (TSE:NEO) rose 16.8% on Wednesday . The company traded as high as C$10.88 and last traded at C$10.82. Approximately 404,363 shares were traded during trading, an increase of 392% from the average daily volume of 82,119 shares. The stock had previously closed at C$9.26.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upped their price objective on Neo Performance Materials from C$15.00 to C$16.50 and gave the stock a “buy” rating in a report on Wednesday, March 19th.

Neo Performance Materials Trading Up 16.8 %

The stock has a market capitalization of C$316.67 million, a P/E ratio of -142.10 and a beta of 1.38. The stock’s fifty day moving average price is C$8.43 and its two-hundred day moving average price is C$8.23. The company has a current ratio of 2.59, a quick ratio of 1.92 and a debt-to-equity ratio of 10.65.

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.