Neo Performance Materials (OTCMKTS:NOPMF) Sets New 12-Month High After Better-Than-Expected Earnings

Neo Performance Materials Inc. (OTCMKTS:NOPMF) shares hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $32.19 and last traded at $31.7915, with a volume of 76132 shares traded. 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 company had revenue of $205.75 million for the quarter, compared to analyst estimates of $169.14 million. Neo Performance Materials had a return on equity of 12.14% and a net margin of 0.26%.During the same quarter last year, the company earned $0.13 earnings per share.

Wall Street Analyst Weigh In

NOPMF has been the topic of several recent research reports. Zacks Research upgraded Neo Performance Materials from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. BMO Capital Markets reissued an “outperform” rating on shares of Neo Performance Materials in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Neo Performance Materials Stock Performance

The company has a 50 day moving average price of $26.01 and a 200-day moving average price of $20.91. The company has a market cap of $1.21 billion and a P/E ratio of -2,637.35. The company has a current ratio of 1.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28.

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.