Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Up on Strong Earnings

Neo Performance Materials Inc. (OTCMKTS:NOPMF) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $28.33, but opened at $33.73. Neo Performance Materials shares last traded at $26.7737, with a volume of 10,991 shares changing hands.

The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Neo Performance Materials had a negative net margin of 1.98% and a positive return on equity of 8.03%. The business had revenue of $205.75 million for the quarter, compared to analyst estimates of $169.14 million. During the same quarter last year, the business earned $0.13 earnings per share.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research upgraded Neo Performance Materials from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. BMO Capital Markets reissued an “outperform” rating on shares of Neo Performance Materials in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy”.

Neo Performance Materials Stock Performance

The firm’s 50-day simple moving average is $25.97 and its two-hundred day simple moving average is $20.82. The company has a current ratio of 1.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.24 billion and a PE ratio of -104.04.

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.