Neo Performance Materials (TSE:NEO) Shares Up 16.8% - Here's Why

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s share price rose 16.8% during trading on Wednesday . The stock traded as high as C$10.88 and last traded at C$10.82. Approximately 404,363 shares traded hands during mid-day 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 Analyst Weigh In

Separately, Stifel Nicolaus boosted their price target on Neo Performance Materials from C$15.00 to C$16.50 and gave the company a "buy" rating in a research note on Wednesday, March 19th.

Neo Performance Materials Price Performance

The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 10.65. The company's fifty day moving average price is C$8.51 and its 200 day moving average price is C$8.27. The company has a market capitalization of C$288.28 million, a P/E ratio of -129.36 and a beta of 1.38.

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.