Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Down – Here’s What Happened

Neo Performance Materials Inc. (OTCMKTS:NOPMF)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $21.9340, but opened at $20.43. Neo Performance Materials shares last traded at $20.35, with a volume of 2,495 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. B. Riley Financial initiated coverage on Neo Performance Materials in a research note on Wednesday, September 2nd. They issued a “buy” rating for the company. BMO Capital Markets reissued an “outperform” rating on shares of Neo Performance Materials in a report on Monday, July 13th. Zacks Research lowered shares of Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Jefferies Financial Group upgraded shares of Neo Performance Materials to a “strong-buy” rating in a research report on Friday, September 25th. One investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Neo Performance Materials Stock Performance

The stock has a market capitalization of $978.52 million and a PE ratio of -2,130.00. The firm’s fifty day moving average is $23.88 and its 200-day moving average is $22.64. The company has a current ratio of 2.06, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Neo Performance Materials (OTCMKTS:NOPMF) last announced its earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, topping 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 11.52%. The company had revenue of $205.75 million during the quarter, compared to analyst estimates of $169.14 million. During the same quarter last year, the firm posted $0.13 earnings per share. As a group, research analysts anticipate that Neo Performance Materials Inc. will post 1.38 earnings per share for the current year.

About Neo Performance Materials

Neo Performance Materials Inc is a Canada-based advanced materials company that develops, manufactures and supplies materials used in high-technology and industrial applications. Its products are primarily derived from rare earths and other specialty metals and are sold to manufacturers around the world.

The company operates through businesses focused on magnetic materials, rare earth chemicals and oxides, and rare metals and alloys. Its Magnequench division produces rare-earth magnetic powders and bonded magnets used in motors, sensors, electronics, automotive components and other applications.