Neo Performance Materials (TSE:NEO) Shares Up 5.3% – What’s Next?

Neo Performance Materials Inc. (TSE:NEO) shares shot up 5.3% during trading on Thursday . The stock traded as high as C$10.97 and last traded at C$10.75. 241,702 shares changed hands during trading, an increase of 180% from the average session volume of 86,473 shares. The stock had previously closed at C$10.21.

Analysts Set New Price Targets

Separately, Stifel Nicolaus increased their price objective on 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 stock has a 50 day simple moving average of C$8.69 and a 200-day simple moving average of C$8.34. The firm has a market cap of C$312.86 million, a PE ratio of -140.39 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.