Canaccord Genuity Sticks to Its Buy Rating for Neo Performance Materials Inc (NEO)

By Carrie Williams

On November 30, an analyst has provided a rating update for Neo Performance Materials Inc (NEOResearch Report). The company received a Buy on November 30 from Canaccord Genuity’s analyst Yuri Lynk, with a C$22 price target.

According to TipRanks.com, Lynk is a 4-star analyst with an average return of 5.8% and a 51.9% success rate. Lynk covers the Basic Materials sector, focusing on stocks such as Badger Daylighting Ltd, Stantec Inc, and Fluor Corp.

Currently, the analyst consensus on Neo Performance Materials Inc is a Strong Buy with an average price target of C$24, representing a 59.6% upside. In a report issued on November 15, RBC Capital also reiterated a Buy rating on the stock with a C$23 price target.

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Neo Performance Materials Inc’s market cap is currently C$599M and has a P/E ratio of 13.2. The company has a Price to Book ratio of 1.07.

Neo Performance Materials, Inc. manufactures rare earth and rare metalbased functional materials. The company operates through the following business segments: Magnequench, Chemicals & Oxides, and Rare Metals. The Company was founded on September 12, 2017 and is headquartered in Toronto, Canada.

The company’s shares closed on Friday at C$15.04.