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

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) shares hit 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. The stock had previously closed at $5.63.

Wall Street Analysts Forecast Growth

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

New Pacific Metals Stock Performance

The firm has a 50 day simple moving average of $4.69 and a 200 day simple moving average of $3.67. The firm has a market cap of $1.06 billion, a P/E ratio of -192.00 and a beta of 0.94.

Institutional Trading of New Pacific Metals

A number of large investors have recently modified their holdings of the business. Jupiter Asset Management Ltd. boosted its position in shares of New Pacific Metals by 5.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 13,176,710 shares of the scientific and technical instruments company’s stock valued at $46,141,000 after acquiring an additional 722,700 shares during the last quarter. Equinox Partners Investment Management LLC boosted its position in shares of New Pacific Metals by 18.5% during the 1st quarter. Equinox Partners Investment Management LLC now owns 6,700,045 shares of the scientific and technical instruments company’s stock valued at $27,781,000 after acquiring an additional 1,044,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of New Pacific Metals by 42.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,992,253 shares of the scientific and technical instruments company’s stock valued at $10,788,000 after acquiring an additional 1,180,666 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of New Pacific Metals by 42.1% during the 4th quarter. Alps Advisors Inc. now owns 2,878,543 shares of the scientific and technical instruments company’s stock valued at $10,104,000 after acquiring an additional 852,375 shares during the last quarter. Finally, Helikon Investments Ltd bought a new stake in shares of New Pacific Metals during the 4th quarter valued at about $8,050,000. 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.