Neo Performance Materials Inc (NEO) Gets a Buy Rating from Canaccord Genuity

By Carrie Williams

On December 18, an analyst has provided a rating update for Neo Performance Materials Inc (NEOResearch Report). The company received a Buy on December 18 from Canaccord Genuity’s analyst Yuri Lynk, with a C$18.78 price target.

According to TipRanks.com, Lynk is a 4-star analyst with an average return of 4.0% and a 50.9% 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$21.25, a 30.8% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a C$19.25 price target.

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The company has a one-year high of C$18.65 and a one-year low of C$11.40. Currently, Neo Performance Materials Inc has an average volume of 29.3K.

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 Wednesday at C$16.25.