Neo Performance Materials (TSE:NEO) Stock Price Down 0.5% – What’s Next?

Neo Performance Materials Inc. (TSE:NEO) dropped 0.5% during mid-day trading on Monday . The company traded as low as C$7.77 and last traded at C$7.80. Approximately 25,601 shares changed hands during trading, a decline of 61% from the average daily volume of 66,135 shares. The stock had previously closed at C$7.84.

Wall Street Analyst Weigh In

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

Neo Performance Materials Price Performance

The stock has a fifty day simple moving average of C$8.25 and a two-hundred day simple moving average of C$8.11. The company has a market cap of C$266.91 million, a PE ratio of -119.77 and a beta of 1.38. 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.