Neo Performance Materials (OTCMKTS:NOPMF) Shares Up 7.8% – Here’s What Happened

Neo Performance Materials Inc. (OTCMKTS:NOPMF) shot up 7.8% during trading on Wednesday . The company traded as high as $25.0725 and last traded at $24.91. 1,190 shares traded hands during trading, a decline of 95% from the average session volume of 22,744 shares. The stock had previously closed at $23.11.

Analysts Set New Price Targets

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Neo Performance Materials in a report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Neo Performance Materials Price Performance

The business has a fifty day moving average of $19.56 and a 200-day moving average of $16.16. The firm has a market cap of $1.10 billion and a PE ratio of -92.42. The company has a current ratio of 2.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

Neo Performance Materials (OTCMKTS:NOPMF) last announced its earnings results on Tuesday, May 12th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. The business had revenue of $154.96 million for the quarter, compared to analyst estimates of $127.33 million. Neo Performance Materials had a positive return on equity of 7.85% and a negative net margin of 1.98%. As a group, research analysts predict that Neo Performance Materials Inc. will post 0.92 earnings per share 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.