New Pacific Metals Corp. (NYSEAMERICAN:NEWP - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $5.40 and traded as high as $5.80. New Pacific Metals shares last traded at $5.70, with a volume of 635,229 shares traded.
Analyst Ratings Changes
NEWP has been the topic of a number of recent analyst reports. Roth Capital reaffirmed a "buy" rating and issued a $8.75 price objective on shares of New Pacific Metals in a report on Thursday, September 17th. BMO Capital Markets reaffirmed an "outperform" rating on shares of New Pacific Metals in a research note on Monday. Four research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.75.
Get Our Latest Stock Analysis on NEWP
New Pacific Metals Stock Down 1.0%
The firm has a market capitalization of $1.06 billion, a P/E ratio of -285.00 and a beta of 0.97. The stock has a fifty day moving average of $6.39 and a 200-day moving average of $5.40.
Hedge Funds Weigh In On New Pacific Metals
A number of large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of New Pacific Metals in the second quarter valued at approximately $100,000. Bank of America Corp DE bought a new stake in shares of New Pacific Metals in the second quarter worth $2,378,000. Legal & General Group Plc bought a new stake in shares of New Pacific Metals in the second quarter worth $354,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in New Pacific Metals during the second quarter worth $159,000. Finally, Quantbot Technologies LP acquired a new position in New Pacific Metals during the second quarter worth $329,000. Institutional investors and hedge funds own 22.95% of the company's stock.
About New Pacific Metals
(
Get Free Report)
New Pacific Metals Corp. is a Canadian mineral exploration and development company focused on discovering and advancing precious-metals projects in Bolivia. The company's portfolio is centered on silver, with potential for associated gold and other metals.
Its flagship asset is the Silver Sand project in the Potosí Department of Bolivia, a large silver exploration and development project. New Pacific also holds the Carangas project in the Oruro Department and the Silverstrike project in Bolivia, expanding the company's regional exploration pipeline.
New Pacific Metals has built its business around exploration, resource evaluation, technical studies and permitting rather than producing or selling refined metals.
Further Reading
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