Neo Performance Materials (OTCMKTS:NOPMF) Shares Down 7.7% – Here’s Why

Shares of Neo Performance Materials Inc. (OTCMKTS:NOPMF) dropped 7.7% on Wednesday. The stock traded as low as $18.00 and last traded at $18.00. 673 shares were traded during trading, a decline of 98% from the average daily volume of 42,432 shares. The stock had previously closed at $19.50.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NOPMF shares. Jefferies Financial Group upgraded shares of Neo Performance Materials to a “strong-buy” rating in a research report on Friday, September 25th. BMO Capital Markets reissued an “outperform” rating on shares of Neo Performance Materials in a report on Monday, July 13th. Zacks Research lowered shares of Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, B. Riley Financial began coverage on shares of Neo Performance Materials in a research note on Wednesday, September 2nd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.

Neo Performance Materials Price Performance

The company has a fifty day simple moving average of $23.04 and a 200-day simple moving average of $22.83. The company has a market cap of $869.18 million and a P/E ratio of 17.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.00.

Neo Performance Materials (OTCMKTS:NOPMF) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $205.75 million during the quarter, compared to analyst estimates of $169.14 million. Neo Performance Materials had a return on equity of 11.52% and a net margin of 0.26%. During the same period last year, the company posted $0.13 EPS. On average, sell-side analysts predict that Neo Performance Materials Inc. will post 1.38 earnings per share for the current year.

About Neo Performance Materials

Neo Performance Materials Inc is a Canada-based advanced materials company that develops, manufactures and supplies materials used in high-technology and industrial applications. Its products are primarily derived from rare earths and other specialty metals and are sold to manufacturers around the world.

The company operates through businesses focused on magnetic materials, rare earth chemicals and oxides, and rare metals and alloys. Its Magnequench division produces rare-earth magnetic powders and bonded magnets used in motors, sensors, electronics, automotive components and other applications.