Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Up – Here’s Why

Neo Performance Materials Inc. (OTCMKTS:NOPMF) gapped up prior to trading on Friday. The stock had previously closed at $17.89, but opened at $18.6990. Neo Performance Materials shares last traded at $18.6990, with a volume of 447 shares trading hands.

Analyst Upgrades and Downgrades

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

Neo Performance Materials Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 2.06. The firm’s fifty day moving average is $23.04 and its two-hundred day moving average is $22.83. The company has a market cap of $857.42 million and a P/E ratio of -1,866.40.

Neo Performance Materials (OTCMKTS:NOPMF) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Neo Performance Materials had a net margin of 0.26% and a return on equity of 11.52%. The business had revenue of $205.75 million for the quarter, compared to analysts’ expectations of $169.14 million. During the same quarter in the previous year, the company earned $0.13 EPS. As a group, analysts anticipate that Neo Performance Materials Inc. will post 1.38 earnings per share for the current fiscal 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.