Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down prior to trading, opening at $18.9025 after a $20.90 close, though the stock later traded near $20.91 on light volume (3,763 shares).
• BMO Capital Markets initiated coverage with an "outperform" rating; the consensus on the stock is a Moderate Buy (one Buy, one Hold).
• Fundamentals: market capitalization of about $875.3M and a negative P/E (-80.27), with healthy liquidity (current ratio 2.24, quick ratio 1.18), low leverage (debt/equity 0.22), and 50-/200-day moving averages of $17.63 and $14.69 respectively.

Neo Performance Materials Inc. (OTCMKTS:NOPMF - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $20.90, but opened at $18.9025. Neo Performance Materials shares last traded at $20.91, with a volume of 3,763 shares trading hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets began coverage on Neo Performance Materials in a research report on Friday, February 20th. They set an "outperform" rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Neo Performance Materials currently has an average rating of "Moderate Buy".

Neo Performance Materials Trading Down 2.7%

The company has a quick ratio of 1.18, a current ratio of 2.24 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $875.29 million and a P/E ratio of -80.27. The firm has a 50 day moving average of $17.63 and a 200-day moving average of $14.69.

Neo Performance Materials Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.