Neo Performance Materials (OTCMKTS:NOPMF) Sets New 52-Week High Following Strong Earnings

Neo Performance Materials Inc. (OTCMKTS:NOPMF)’s stock price hit a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $32.19 and last traded at $31.7915, with a volume of 76132 shares trading hands. The stock had previously closed at $30.06.

The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $205.75 million during the quarter, compared to the consensus estimate of $169.14 million. Neo Performance Materials had a net margin of 0.26% and a return on equity of 12.14%. During the same quarter last year, the firm earned $0.13 earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOPMF. Zacks Research raised Neo Performance Materials from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. BMO Capital Markets reaffirmed 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 and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Neo Performance Materials Trading Down 6.9%

The company has a quick ratio of 0.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.21 billion and a P/E ratio of -2,637.35. The firm’s 50 day simple moving average is $26.01 and its two-hundred day simple moving average is $20.91.

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.