Neo Performance rises after launching strategic review

Neo Performance Materials

14/06/2024 15:20

** Shares of industrial materials maker and rare earths
company Neo Performance Materials  NEO.TO  up 13.6% at C$8.39
    ** Company says it would be undertaking a comprehensive
strategic review, which could include a sale, divestiture,
merger or other business combinations
    ** Also appoints John McGarva (ex-head of engineering at
Dyson) to its board after consulting with Australia-based
Hastings Technology Metals  HAS.AX , which holds strategic ~20%
share in co
    ** Four out of five analysts rate the company as 'buy' or
higher, while one rates it as 'hold'; the median PT is C$11
    ** Shares up ~10% YTD

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))