Neo Performance Materials (TSE:NEO) Stock Price Up 16.8% – Still a Buy?

Neo Performance Materials Inc. (TSE:NEO) shares shot up 16.8% during mid-day trading on Wednesday . The stock 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.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their price target on shares of Neo Performance Materials from C$15.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday, March 19th.

Neo Performance Materials Stock Down 0.9 %

The stock has a market capitalization of C$292.67 million, a P/E ratio of -131.33 and a beta of 1.38. The stock has a 50 day moving average price of C$8.49 and a 200-day moving average price of C$8.25. The company has a debt-to-equity ratio of 10.65, a current ratio of 2.59 and a quick ratio of 1.92.

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.