Neo Performance Materials (OTCMKTS:NOPMF) Stock Price Up 6.1% - What's Next?

Key Points

• Neo Performance Materials shares rose 6.1% to about $23.32, although trading volume was 98% below the average session volume.
• Analyst sentiment is positive: Jefferies and B. Riley initiated “buy” ratings, Zacks upgraded the stock to “strong buy,” and BMO maintained an “outperform” rating. The consensus rating is “Buy.”
• The company beat quarterly expectations, reporting $0.51 EPS versus a $0.50 estimate and revenue of $205.75 million versus $169.14 million expected.

Shares of Neo Performance Materials Inc. (OTCMKTS:NOPMF - Get Free Report) rose 6.1% during mid-day trading on Wednesday . The company traded as high as $23.3459 and last traded at $23.3155. 855 shares traded hands during trading, a decline of 98% from the average session volume of 38,671 shares. The stock had previously closed at $21.97.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NOPMF shares. Jefferies Financial Group initiated coverage on Neo Performance Materials in a research note on Wednesday. They issued a "buy" rating on the stock. Zacks Research raised Neo Performance Materials from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. B Riley initiated coverage on shares of Neo Performance Materials in a research report on Wednesday. They set a "buy" rating on the stock. Finally, BMO Capital Markets reaffirmed 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 stock. Based on data from MarketBeat.com, Neo Performance Materials currently has an average rating of "Buy".

Neo Performance Materials Stock Up 4.2%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.76. The firm's 50-day moving average is $26.26 and its 200 day moving average is $21.88. The firm has a market capitalization of $1.05 billion and a PE ratio of -2,290.02.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Neo Performance Materials had a net margin of 0.26% and a return on equity of 12.14%. The firm had revenue of $205.75 million during the quarter, compared to the consensus estimate of $169.14 million. During the same period last year, the firm posted $0.13 EPS. As a group, research analysts forecast that Neo Performance Materials Inc. will post 1.4 earnings per share for the current fiscal year.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source