Zacks Research Downgrades Neo Performance Materials (OTCMKTS:NOPMF) to Hold

Key Points

• Zacks Research downgraded Neo Performance Materials from “strong buy” to “hold,” although the stock retains a “Moderate Buy” consensus rating from analysts.
• Other firms remain bullish: BMO Capital Markets reaffirmed an “outperform” rating, while Jefferies and B. Riley initiated coverage with “buy” ratings.
• Neo Performance Materials recently exceeded quarterly expectations, reporting $0.51 in EPS versus $0.50 expected and revenue of $205.75 million versus $169.14 million forecast.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Neo Performance Materials in a research report on Monday, July 13th. Jefferies Financial Group initiated coverage on shares of Neo Performance Materials in a report on Wednesday, September 2nd. They issued a "buy" rating for the company. Finally, B Riley began coverage on shares of Neo Performance Materials in a research note on Wednesday, September 2nd. They set a "buy" rating on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Neo Performance Materials has a consensus rating of "Moderate Buy".

Neo Performance Materials Price Performance

NOPMF stock opened at $22.41 on Tuesday. The business's fifty day moving average price is $25.96 and its 200 day moving average price is $22.22. Neo Performance Materials has a 12-month low of $11.10 and a 12-month high of $34.99. The company has a current ratio of 1.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.03 billion and a PE ratio of -2,240.50.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The company had revenue of $205.75 million during the quarter, compared to analysts' expectations of $169.14 million. Neo Performance Materials had a return on equity of 12.14% and a net margin of 0.26%.During the same period last year, the business posted $0.13 EPS. On average, sell-side analysts anticipate that Neo Performance Materials 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.

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