Neo Performance Materials (TSE:NEO) Trading 16.8% Higher – What’s Next?

Neo Performance Materials Inc. (TSE:NEO)’s stock price was up 16.8% during trading on Tuesday . 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.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their target price 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 Stock Up 16.8 %

The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59. The stock has a market cap of C$316.67 million, a price-to-earnings ratio of -142.10 and a beta of 1.38. The business’s 50 day moving average is C$8.43 and its 200 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.