Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Up – Time to Buy?

Neo Performance Materials Inc. (OTCMKTS:NOPMF)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $18.60, but opened at $20.20. Neo Performance Materials shares last traded at $19.43, with a volume of 1,734 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NOPMF shares. Zacks Research cut shares of Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. BMO Capital Markets restated an “outperform” rating on shares of Neo Performance Materials in a report on Monday, July 13th. B. Riley Financial started coverage on shares of Neo Performance Materials in a research report on Wednesday, September 2nd. They set a “buy” rating on the stock. Finally, Jefferies Financial Group raised shares of Neo Performance Materials to a “strong-buy” rating in a report on Friday, September 25th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Neo Performance Materials Price Performance

The firm has a market capitalization of $844.38 million and a P/E ratio of -1,838.00. The firm has a 50 day moving average price of $20.43 and a 200-day moving average price of $21.01. 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 announced its earnings results on Tuesday, August 11th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $205.75 million during the quarter, compared to analysts’ expectations of $169.14 million. Neo Performance Materials had a return on equity of 11.52% and a net margin of 0.26%. During the same quarter in the previous year, the business earned $0.13 EPS. On average, analysts expect that Neo Performance Materials Inc. will post 1.11 earnings per share for the current year.

Neo Performance Materials Company Profile

Neo Performance Materials is a Canadian advanced materials company that produces specialized materials used in applications including electric motors, consumer electronics, automotive systems, and industrial equipment. Its business focuses on materials derived from rare earths and other specialty metals.

The company operates through three main businesses. Magnequench makes magnetic powders and bonded magnets used in compact, high-performance motors and other devices. Chemicals and Oxides produces rare earth materials, including separated oxides and related products, while Rare Metals supplies specialty metals and compounds for industrial and technology applications.

Neo serves customers internationally, with manufacturing and processing operations across several regions, including Europe and Asia.