Neo Performance Materials (OTCMKTS:NOPMF) Stock Price Up 8.2% – Here’s What Happened

Neo Performance Materials Inc. (OTCMKTS:NOPMF) shares rose 8.2% during trading on Tuesday . The stock traded as high as $23.31 and last traded at $23.31. Approximately 3,938 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 42,661 shares. The stock had previously closed at $21.54.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BMO Capital Markets restated an “outperform” rating on shares of Neo Performance Materials in a research note on Monday, July 13th. B. Riley Financial began coverage on Neo Performance Materials in a research note on Wednesday, September 2nd. They set a “buy” rating for the company. Jefferies Financial Group started coverage on Neo Performance Materials in a report on Wednesday, September 2nd. They issued a “buy” rating for the company. Finally, Zacks Research downgraded shares of Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Neo Performance Materials Stock Performance

The company has a fifty day moving average of $25.06 and a 200 day moving average of $22.35. The stock has a market cap of $1.09 billion and a P/E ratio of -2,371.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.00.

Neo Performance Materials (OTCMKTS:NOPMF) last posted its quarterly earnings data 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. The company had revenue of $205.75 million during the quarter, compared to analyst estimates of $169.14 million. Neo Performance Materials had a net margin of 0.26% and a return on equity of 11.52%. During the same quarter last year, the firm posted $0.13 EPS. On average, equities analysts predict 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 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.