Neo Performance Materials (TSE:NEO) Trading 16.8% Higher – Still a Buy?

Neo Performance Materials Inc. (TSE:NEO)’s stock price was up 16.8% during trading on Wednesday . The stock traded as high as C$10.88 and last traded at C$10.82. Approximately 404,363 shares traded hands during mid-day 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 boosted their price target on shares of Neo Performance Materials from C$15.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday, March 19th.

Neo Performance Materials Price Performance

The firm has a market cap of C$292.67 million, a PE ratio of -131.33 and a beta of 1.38. The company has a debt-to-equity ratio of 10.65, a current ratio of 2.59 and a quick ratio of 1.92. The firm has a 50-day simple moving average of C$8.49 and a 200 day simple moving average of C$8.25.

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.