New Pacific Metals (NYSEAMERICAN:NEWP) Sets New 12-Month High – What’s Next?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $6.72 and last traded at $6.61, with a volume of 441854 shares changing hands. The stock had previously closed at $6.51.

Wall Street Analyst Weigh In

Separately, Roth Capital reiterated a “buy” rating and issued a $7.25 target price on shares of New Pacific Metals in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.25.

New Pacific Metals Trading Up 1.5%

The firm has a 50-day moving average of $4.52 and a two-hundred day moving average of $4.58. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -330.50 and a beta of 0.95.

Institutional Trading of New Pacific Metals

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC bought a new position in shares of New Pacific Metals during the 4th quarter worth about $27,000. Dimensional Fund Advisors LP bought a new stake in shares of New Pacific Metals in the third quarter valued at about $32,000. Pasadena Private Wealth LLC bought a new stake in shares of New Pacific Metals in the second quarter valued at about $40,000. Jane Street Group LLC acquired a new stake in New Pacific Metals during the second quarter worth about $44,000. Finally, Virtu Financial LLC acquired a new stake in New Pacific Metals during the third quarter worth about $50,000. 22.95% of the stock is owned by institutional investors.

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.