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

Shares of Neo Performance Materials Inc. (TSE:NEO) shot up 16.8% during mid-day trading on Tuesday . The company traded as high as C$10.88 and last traded at C$10.82. 404,363 shares changed hands during mid-day trading, an increase of 392% from the average session volume of 82,119 shares. The stock had previously closed at C$9.26.

Analyst Upgrades and Downgrades

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

Neo Performance Materials Price Performance

The company has a current ratio of 2.59, a quick ratio of 1.92 and a debt-to-equity ratio of 10.65. The company has a market capitalization of C$316.67 million, a PE ratio of -142.10 and a beta of 1.38. The stock’s 50-day moving average is C$8.43 and its two-hundred day moving average is C$8.23.

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.