New Pacific Metals (NYSEAMERICAN:NEWP) Shares Up 8.3% – Should You Buy?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) traded up 8.3% during mid-day trading on Thursday . The company traded as high as $4.41 and last traded at $4.3410. Approximately 79,953 shares changed hands during trading, a decline of 92% from the average session volume of 1,065,103 shares. The stock had previously closed at $4.01.

Analyst Ratings Changes

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

New Pacific Metals Stock Performance

The firm has a 50 day simple moving average of $4.82 and a 200 day simple moving average of $4.36. The firm has a market capitalization of $792.57 million, a PE ratio of -214.00 and a beta of 0.95.

Institutional Investors Weigh In On New Pacific Metals

Large investors have recently bought and sold shares of the business. Barclays PLC purchased a new position in New Pacific Metals in the 4th quarter worth about $27,000. Dimensional Fund Advisors LP purchased a new stake in shares of New Pacific Metals during the 3rd quarter valued at about $32,000. J.W. Cole Advisors Inc. purchased a new stake in shares of New Pacific Metals during the 4th quarter valued at about $53,000. Hollencrest Capital Management purchased a new stake in shares of New Pacific Metals during the 4th quarter valued at about $63,000. Finally, LPL Financial LLC bought a new stake in shares of New Pacific Metals in the fourth quarter worth approximately $64,000. 22.95% of the stock is currently owned by institutional investors.

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.