Neo Performance Materials (OTCMKTS:NOPMF) Stock Price Down 8.5% – Here’s Why

Neo Performance Materials Inc. (OTCMKTS:NOPMF)’s share price traded down 8.5% during mid-day trading on Thursday. The company traded as low as $19.60 and last traded at $19.60. Approximately 15,943 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 42,422 shares. The stock had previously closed at $21.43.

Analyst Ratings Changes

NOPMF has been the topic of several analyst reports. B. Riley Financial started coverage on Neo Performance Materials in a report on Wednesday, September 2nd. They set a “buy” rating on the stock. Zacks Research downgraded shares of Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Jefferies Financial Group upgraded shares of Neo Performance Materials to a “strong-buy” rating in a research report on Friday, September 25th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Neo Performance Materials in a research note on Monday, July 13th. One equities research 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Neo Performance Materials Stock Performance

The stock’s 50-day moving average is $23.84 and its 200-day moving average is $22.69. The firm has a market capitalization of $900.65 million and a price-to-earnings ratio of -1,960.50. 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 released 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. Neo Performance Materials had a return on equity of 11.52% and a net margin of 0.26%.The company had revenue of $205.75 million for the quarter, compared to the consensus estimate of $169.14 million. During the same quarter last year, the business posted $0.13 EPS. On average, analysts predict that Neo Performance Materials Inc. will post 1.38 EPS for the current fiscal 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.