Neo Material Profits Rise, but Lower Prices Ahead

Reuters Africa reported that Neo Material Technologies (TSX:NEM) anticipates lower rare earth prices despite earning a record profit in Q3 2011.

As quoted in the market news:

Shares rose as much as 7 percent early in the day, but later turned negative, closing down 1.8 percent at C$8.05. This came as the company warned that lower rare earth prices coupled with stagnant volumes would result in lower revenues in the fourth quarter compared to the third quarter.

Click here to read the full Reuters Africa report.