New Pacific Metals (NYSEAMERICAN:NEWP) Stock Price Up 9.4% – Here’s What Happened

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) was up 9.4% during mid-day trading on Wednesday . The company traded as high as $5.76 and last traded at $5.73. Approximately 208,996 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 982,691 shares. The stock had previously closed at $5.24.

Wall Street Analyst Weigh In

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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, New Pacific Metals has an average rating of “Buy” and a consensus target price of $7.25.

New Pacific Metals Trading Up 11.7%

The firm’s 50-day moving average price is $4.36 and its two-hundred day moving average price is $4.47. The stock has a market cap of $1.08 billion, a PE ratio of -292.35 and a beta of 0.95.

Institutional Trading of New Pacific Metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC bought a new position in shares of New Pacific Metals in the 4th quarter worth $27,000. Dimensional Fund Advisors LP purchased a new stake in shares of New Pacific Metals during the third quarter valued at about $32,000. J.W. Cole Advisors Inc. bought a new stake in shares of New Pacific Metals in the 4th quarter valued at about $53,000. Hollencrest Capital Management purchased a new position in shares of New Pacific Metals in the 4th quarter worth approximately $63,000. Finally, LPL Financial LLC bought a new position in shares of New Pacific Metals during the 4th quarter worth approximately $64,000. Institutional investors own 22.95% of the company’s stock.

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.