New Pacific Metals (NYSEAMERICAN:NEWP) Reaches New 12-Month High - Still a Buy?

Key Points

• New 52-week high: Shares traded as high as $6.00 (last $5.9430) on Monday with about 327,491 shares changing hands.
• Analyst sentiment is bullish: Four analysts rate the stock a Buy with a consensus target of $6.00; Roth MKM raised its target to $6 and ATB Cormark initiated coverage with a "moderate buy."
• Institutional buying and fundamentals: Large investors including Equinox, Millennium and Virtu increased stakes (institutional ownership 22.95%), while the company has a market cap of $1.06B and a negative PE of -192, indicating it is currently unprofitable.

New Pacific Metals Corp. (NYSEAMERICAN:NEWP - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $6.00 and last traded at $5.9430, with a volume of 327491 shares changing hands. The stock had previously closed at $5.63.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. ATB Cormark Capital Markets assumed coverage on shares of New Pacific Metals in a research report on Friday, February 20th. They set a "moderate buy" rating for the company. Raymond James Financial restated an "outperform" rating on shares of New Pacific Metals in a research report on Wednesday, January 14th. Finally, Roth Mkm restated a "buy" rating and set a $6.00 price target (up from $4.25) on shares of New Pacific Metals in a research report on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $6.00.

New Pacific Metals Trading Up 2.3%

The firm has a fifty day moving average of $4.69 and a two-hundred day moving average of $3.67. The company has a market cap of $1.06 billion, a PE ratio of -192.00 and a beta of 0.94.

Institutional Investors Weigh In On New Pacific Metals

Several large investors have recently added to or reduced their stakes in the company. Equinox Partners Investment Management LLC increased its holdings in New Pacific Metals by 18.5% in the 1st quarter. Equinox Partners Investment Management LLC now owns 6,700,045 shares of the scientific and technical instruments company's stock worth $27,781,000 after acquiring an additional 1,044,000 shares during the last quarter. Virtu Financial LLC increased its holdings in New Pacific Metals by 224.0% in the 4th quarter. Virtu Financial LLC now owns 59,640 shares of the scientific and technical instruments company's stock worth $209,000 after acquiring an additional 41,235 shares during the last quarter. XTX Topco Ltd purchased a new stake in New Pacific Metals in the 4th quarter worth about $312,000. Quadrature Capital Ltd purchased a new stake in New Pacific Metals in the 4th quarter worth about $259,000. Finally, Millennium Management LLC increased its holdings in New Pacific Metals by 107.4% in the 4th quarter. Millennium Management LLC now owns 725,335 shares of the scientific and technical instruments company's stock worth $2,544,000 after acquiring an additional 375,631 shares during the last quarter. Hedge funds and other institutional investors 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.

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