New Pacific Metals (NYSEAMERICAN:NEWP) Shares Down 9.2% – Should You Sell?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) traded down 9.2% during mid-day trading on Tuesday . The company traded as low as $3.92 and last traded at $3.9050. Approximately 319,464 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,060,813 shares. The stock had previously closed at $4.30.

Analyst Ratings Changes

Separately, Roth Capital reaffirmed a “buy” rating and set a $7.25 target price on shares of New Pacific Metals in a research report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $7.25.

New Pacific Metals Price Performance

The stock’s fifty day moving average price is $4.73 and its 200-day moving average price is $4.38. The firm has a market cap of $753.68 million, a price-to-earnings ratio of -203.50 and a beta of 0.95.

Institutional Trading of New Pacific Metals

Several hedge funds and other institutional investors have recently modified their holdings of NEWP. Barclays PLC acquired a new position in New Pacific Metals during the fourth quarter valued at $27,000. Dimensional Fund Advisors LP purchased a new position in New Pacific Metals during the 3rd quarter valued at about $32,000. Jane Street Group LLC acquired a new position in shares of New Pacific Metals in the 2nd quarter valued at about $44,000. Virtu Financial LLC acquired a new position in shares of New Pacific Metals in the 3rd quarter valued at about $50,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of New Pacific Metals in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 22.95% of the company’s stock.

New Pacific Metals Company Profile

New Pacific Metals Corp., together with its subsidiaries, engages in the exploration and development of mineral properties in Bolivia and Canada. The company explores for silver, gold, lead, and zinc deposits. Its flagship property is the Silver Sand property covering an area of 5.42 square kilometers located in the Potosí Department, Bolivia. The company was formerly known as New Pacific Holdings Corp. and changed its name to New Pacific Metals Corp. in July 2017. New Pacific Metals Corp. is headquartered in Vancouver, Canada.