Neo Performance Materials Inc (NEO) Gets a Buy Rating from RBC Capital

By Ryan Adsit

Neo Performance Materials Inc (TSX: NEO), the NA sector company, has received a rating update from a Wall Street analyst on August 13. Analyst Steve Arthur from RBC Capital remains bullish on the stock and has a C$25 price target.

Arthur has an average return of 5.0% when recommending Neo Performance Materials Inc.

According to TipRanks.com, Arthur is ranked #468 out of 4857 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Neo Performance Materials Inc with a C$25 average price target, which is a 39.7% upside from current levels. In a report issued on August 13, Canaccord Genuity also maintained a Buy rating on the stock with a C$24 price target.

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The company has a one-year high of C$18.65 and a one-year low of C$13.87. Currently, Neo Performance Materials Inc has an average volume of 36.19K.

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$17.89, close to its 52-week high of C$18.65.