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

Key Points

• Neo Performance Materials shares opened higher, rising from a prior close of $22.7805 to $23.6999 before retreating to $22.90 in light trading.
• Analyst sentiment remains positive overall, with Jefferies upgrading the stock to “strong buy,” B. Riley initiating a “buy” rating and BMO maintaining “outperform”; MarketBeat reports a consensus “Buy” rating.
• The company exceeded quarterly expectations, reporting $0.51 in earnings per share versus a $0.50 estimate and revenue of $205.75 million versus $169.14 million expected.

Neo Performance Materials Inc. (OTCMKTS:NOPMF - Get Free Report)'s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $22.7805, but opened at $23.6999. Neo Performance Materials shares last traded at $22.90, with a volume of 738 shares changing hands.

Analysts Set New Price Targets

NOPMF has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Neo Performance Materials to a "strong-buy" rating in a research note on Friday, September 25th. Zacks Research lowered shares of Neo Performance Materials from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 8th. B. Riley Financial initiated coverage on shares of Neo Performance Materials in a report on Wednesday, September 2nd. They issued 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Neo Performance Materials Stock Down 1.1%

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 has a 50 day simple moving average of $24.37 and a two-hundred day simple moving average of $22.53. The stock has a market cap of $1.04 billion and a P/E ratio of -2,253.15.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 11.52% and a net margin of 0.26%.During the same quarter in the prior year, the business posted $0.13 earnings per share. Equities research analysts predict that Neo Performance Materials Inc. will post 1.38 earnings per share for the current year.

Neo Performance Materials Company Profile

Neo Performance Materials Inc is a Canadian advanced materials company that produces specialty materials used in automotive, electronics, clean energy, healthcare, aerospace and industrial applications. Its operations are organized into three business units: Magnequench, Neo Chemicals & Oxides, and Neo Rare Metals.

Magnequench manufactures rare-earth magnetic powders and bonded permanent magnets, including materials used in motors, sensors and other compact electronic components. Neo Chemicals & Oxides produces rare-earth compounds, oxides and related materials, while Neo Rare Metals supplies high-purity specialty metals and compounds, including materials used in electronics, advanced manufacturing and other technology applications.

Neo Performance Materials serves customers internationally through manufacturing, processing and research operations in North America, Europe and Asia.

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