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

Key Points

• NEWP stock crossed above its 200-day moving average (200-day MA $3.59), trading as high as $5.57 and last at $5.46 on volume of 579,210 shares.
• Analysts are bullish: four firms rate the stock a Buy with a consensus target of about $6.00, including a recent price-target raise by Roth MKM.
• The company has a market cap of about $1.01 billion, a negative P/E (-182), roughly 22.95% institutional ownership, and focuses on silver and gold exploration (flagship Silver Sand project in Bolivia).

New Pacific Metals Corp. (NYSEAMERICAN:NEWP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.59 and traded as high as $5.57. New Pacific Metals shares last traded at $5.46, with a volume of 579,210 shares traded.

Analyst Upgrades and Downgrades

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

New Pacific Metals Stock Up 0.7%

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -182.00 and a beta of 0.79. The firm has a fifty day moving average price of $4.55 and a 200-day moving average price of $3.59.

Institutional Trading of New Pacific Metals

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC acquired a new stake in New Pacific Metals in the 4th quarter worth about $27,000. Dimensional Fund Advisors LP acquired a new stake in New Pacific Metals in the 3rd quarter worth about $32,000. J.W. Cole Advisors Inc. acquired a new stake in New Pacific Metals in the 4th quarter worth about $53,000. Hollencrest Capital Management acquired a new stake in New Pacific Metals in the 4th quarter worth about $63,000. Finally, LPL Financial LLC acquired a new stake in New Pacific Metals in the 4th quarter worth about $64,000. 22.95% of the stock is owned by institutional investors and hedge funds.

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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