Neo Performance Materials (TSE:NEO) Rating Increased to Moderate Buy 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 investment analysts at Cormark to a "moderate buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports. Cormark also issued estimates for Neo Performance Materials' FY2025 earnings at $0.32 EPS, FY2026 earnings at $0.75 EPS and FY2027 earnings at $1.02 EPS.

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

Neo Performance Materials Price Performance

Shares of TSE:NEO traded down C$0.27 during midday trading on Wednesday, reaching C$16.76. 36,254 shares of the company's stock traded hands, compared to its average volume of 159,291. Neo Performance Materials has a 1 year low of C$7.18 and a 1 year high of C$18.26. The company has a market cap of C$697.20 million, a P/E ratio of -67.04 and a beta of 1.16. The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59. The company has a fifty day simple moving average of C$16.69 and a two-hundred day simple moving average of C$12.55.

About Neo Performance Materials

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.