New Pacific Metals (NYSEAMERICAN:NEWP) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.44 and traded as high as $4.57. New Pacific Metals shares last traded at $4.37, with a volume of 426,127 shares.

Wall Street Analyst Weigh In

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

New Pacific Metals Price Performance

The company’s 50 day moving average price is $4.36 and its two-hundred day moving average price is $4.45. The stock has a market capitalization of $859.37 million, a PE ratio of -232.00 and a beta of 0.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NEWP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of New Pacific Metals by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,381,595 shares of the scientific and technical instruments company’s stock valued at $2,615,000 after purchasing an additional 225,931 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of New Pacific Metals by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 270,081 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 60,014 shares during the last quarter. Jane Street Group LLC purchased a new position in New Pacific Metals during the second quarter worth approximately $44,000. Bank of America Corp DE lifted its position in New Pacific Metals by 33.9% during the second quarter. Bank of America Corp DE now owns 64,041 shares of the scientific and technical instruments company’s stock worth $86,000 after buying an additional 16,213 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in New Pacific Metals during the third quarter worth approximately $32,000. 22.95% of the stock is currently owned by institutional investors and hedge funds.

About New Pacific Metals

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.