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

Neo Performance Materials Inc. (OTCMKTS:NOPMF) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Neo Performance Materials had a positive return on equity of 8.03% and a negative net margin of 1.98%.The business had revenue of $205.75 million for the quarter, compared to analyst estimates of $169.14 million. During the same period in the previous year, the company earned $0.13 earnings per share.

Wall Street Analyst Weigh In

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

Neo Performance Materials Stock Down 4.5%

The stock has a market cap of $1.24 billion and a P/E ratio of -104.04. 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’s 50-day moving average is $25.97 and its 200-day moving average is $20.82.

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.