Why is the Neometals share price surging 10% today?

Neometals joins the list of winners today.

| More on:
Rising rocket with dollar signs.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Neometals shares are rallying on Thursday on no news 
  • The share has bounced from 6-month lows to reverse a longer-term downtrend 
  • In the last 12 months, the Neometals share price has secured a 110% gain 

The Neometals Ltd (ASX: NMT) share price is surging 10% higher on Thursday and now rests at $1.01 apiece.

Investors have bid the Neometals share price higher today on no news.

In broad market moves, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) has spiked nearly 1% into the green today. Year to date returns for both are seen below.

TradingView Chart

What's up with the Neometals share price?

Neometals shares have bounced from 6-month lows today. The company attracted buyers when shares were fetching 92 cents apiece at the close yesterday.

With the share price sliding from former highs of $1.95 in April, selling pressure has been on the stock and prices have now traced 39% lower this year to date.

The share jumped back on 13 May when the company announced a deal with Mercedes Benz to build a lithium-ion battery recycling plant.

However, the joy was short-lived and the share continued in its downtrend soon afterwards. The company did release an investor presentation today, although nothing to be considered price-sensitive.

In the update, Neometals explained that it is an "emerging, sustainable battery materials producer… underpinned by proprietary, green, processing technologies [with] 16 granted patents [and] 54 Patents pending."

Investors certainly don't appear to have reacted poorly to the update, that's for sure.

Alas, despite no market-sensitive updates today, investors have bid the share upwards in line with strengths in the wider sector.

Indices tracking the materials and mining sectors are each booking gains today, reversing downward trends in both segments.

In the last 12 months, the Neometals share price has secured a 110% gain, despite trading down in 2022.

Should you invest $1,000 in Rio Tinto Limited right now?

Before you buy Rio Tinto Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Rio Tinto Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Resources Shares

Miner looking at a tablet.
Resources Shares

BHP shares are up 9% in a month. Are they still good value?

Is Australia’s largest miner a big opportunity?

Read more »

Three miners wearing hard hats and high vis vests take a break on site at a mine as the Fortescue share price drops in FY22
Resources Shares

Did you catch what happened with the big 3 ASX 200 mining stocks in April?

BHP, Rio Tinto, and Fortescue all reported their latest mining results in April.

Read more »

Miner looking at a tablet.
Resources Shares

After its earnings result, what's Macquarie's price target on Fortescue shares?

Let’s dig into what Macquarie thinks of Fortescue after its quarterly update.

Read more »

Two mining workers on a laptop at a mine site.
Resources Shares

The Mineral Resources share price is down 72% in a year. Time to pounce?

Two top experts ran their slide rules over Mineral Resources shares. Here’s what they found.

Read more »

Miner looking at a tablet.
Resources Shares

Mineral Resources share price shoots 15% higher on third-quarter report

The ASX 200 iron ore and lithium giant has released its 3Q FY25 activities report.

Read more »

Image from either construction, mining or the oil industry of a friendly worker.
Resources Shares

Why Macquarie says this ASX 200 mining stock could rocket 67% in a year

Macquarie forecasts a big potential rebound for this diversified ASX 200 miner.

Read more »

Female miner smiling at a mine site.
Resources Shares

3 reasons why the Fortescue share price could still be a buy

Here’s why I view Fortescue as an opportunity.

Read more »

A man wearing a hard hat and high visibility vest looks out over a vast plain where heavy mining equipment can be seen in the background.
Resources Shares

Here's the latest earnings forecast out to 2029 for Rio Tinto shares

Let’s unearth what this mining giant is predicted to achieve.

Read more »