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

Neo Performance Materials Inc. (OTCMKTS:NOPMF)’s share price gapped down prior to trading on Monday. The stock had previously closed at $19.6960, but opened at $19.00. Neo Performance Materials shares last traded at $19.9140, with a volume of 1,431 shares changing hands.

Analysts Set New Price Targets

NOPMF has been the subject of a number of research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Neo Performance Materials in a report on Monday, July 13th. Zacks Research downgraded Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Jefferies Financial Group raised Neo Performance Materials to a “strong-buy” rating in a research report on Friday, September 25th. Finally, B. Riley Financial started coverage on Neo Performance Materials in a research note on Wednesday, September 2nd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Neo Performance Materials Stock Performance

The business’s 50-day simple moving average is $23.45 and its two-hundred day simple moving average is $22.79. The firm has a market cap of $873.78 million and a price-to-earnings ratio of 18.57. The company has a quick ratio of 1.00, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Neo Performance Materials (OTCMKTS:NOPMF) last posted its earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $205.75 million for 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 period in the prior year, the company posted $0.13 EPS. As a group, sell-side analysts expect that Neo Performance Materials Inc. will post 1.38 earnings per share for the current fiscal year.

Neo Performance Materials Company Profile

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.