Neo Performance Materials (TSE:NEO) Upgraded at Cormark

Key Points

• Neo Performance Materials has been upgraded to a "moderate buy" rating by Cormark, indicating a positive outlook for investors.
• Stifel Nicolaus raised the company's target price from C$17.50 to C$22.00, further reinforcing a "buy" rating.
• The company, which focuses on rare earth and rare metal-based materials, has a market capitalization of approximately C$712.59 million.

Neo Performance Materials (TSE:NEO - Get Free Report) was upgraded by Cormark to a "moderate buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, Stifel Nicolaus lifted their target price on Neo Performance Materials from C$17.50 to C$22.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$22.00.

Neo Performance Materials Stock Performance

NEO opened at C$17.13 on Wednesday. The company has a debt-to-equity ratio of 10.65, a current ratio of 2.59 and a quick ratio of 1.92. The business's 50-day moving average price is C$16.55 and its two-hundred day moving average price is C$12.31. The company has a market capitalization of C$712.59 million, a price-to-earnings ratio of -68.52 and a beta of 1.16. Neo Performance Materials has a 1 year low of C$7.18 and a 1 year high of C$18.26.

Neo Performance Materials Company Profile

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets.

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