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

Shares of Neo Performance Materials Inc. (OTCMKTS:NOPMF) gapped down before the market opened on Thursday . The stock had previously closed at $23.4930, but opened at $22.89. Neo Performance Materials shares last traded at $23.45, with a volume of 2,576 shares.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. B Riley started coverage on shares of Neo Performance Materials in a report on Wednesday. They issued a “buy” rating for the company. Zacks Research raised shares of Neo Performance Materials from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Neo Performance Materials in a research note on Monday, July 13th. Finally, Jefferies Financial Group started coverage on Neo Performance Materials in a research note on Wednesday. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy”.

Neo Performance Materials Stock Down 0.2%

The firm has a market capitalization of $1.08 billion and a price-to-earnings ratio of -2,345.00. The business has a 50 day moving average of $26.24 and a 200 day moving average of $21.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.76 and a quick ratio of 0.76.

Neo Performance Materials (OTCMKTS:NOPMF) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $205.75 million for the quarter, compared to the consensus estimate of $169.14 million. Neo Performance Materials had a net margin of 0.26% and a return on equity of 12.14%. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, equities analysts anticipate that Neo Performance Materials Inc. will post 1.4 EPS for the current year.

About Neo Performance Materials

Neo Performance Materials Inc is a global supplier of advanced materials, specializing in the production and processing of rare earth and rare metal–based functional materials. Headquartered in Toronto, Canada, the company serves diverse high-tech markets by developing proprietary compounds and alloys that deliver key performance attributes in demanding applications. Its product portfolio includes magnetic powders, rare earth oxides and metals, phosphors, metal alloys, precious metal chemical compounds, and performance catalysts.

Neo Performance Materials operates through distinct business segments focused on Rare Earth & Magnetic Solutions, Advanced Industrial Materials, and Precious Metals & Chemicals.