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

Key Points

• Neo Performance Materials shares opened lower, falling from a prior close of $23.493 to $22.89 before recovering to around $23.45.
• Analyst sentiment remains positive: recent coverage included multiple “Buy” ratings, a Zacks upgrade to “Strong Buy,” and a current consensus rating of “Buy.”
• The company 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 Inc. (OTCMKTS:NOPMF - Get Free Report)'s stock price gapped down prior to trading 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 traded.

Analysts Set New Price Targets

NOPMF has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on Neo Performance Materials in a report on Wednesday. They set a "buy" rating on the stock. Zacks Research upgraded Neo Performance Materials from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. B Riley started coverage on Neo Performance Materials in a report on Wednesday. They set a "buy" rating on the stock. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Neo Performance Materials in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Neo Performance Materials currently has a consensus rating of "Buy".

Neo Performance Materials Trading Down 0.2%

The company's fifty day moving average is $26.24 and its 200-day moving average is $21.95. 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 firm has a market capitalization of $1.08 billion and a P/E ratio of -2,345.00.

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, topping the consensus estimate 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 last year, the firm posted $0.13 EPS. As a group, sell-side analysts anticipate that Neo Performance Materials Inc. will post 1.4 earnings per share for the current fiscal 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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