New Pacific Metals (NYSEAMERICAN:NEWP) Shares Up 8.3% – Here’s What Happened

Shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP) traded up 8.3% during mid-day trading on Thursday . The stock traded as high as $4.41 and last traded at $4.3410. 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.

Wall Street Analyst Weigh In

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

New Pacific Metals Stock Performance

The stock has a 50-day moving average of $4.86 and a 200-day moving average of $4.36. The firm has a market cap of $787.76 million, a price-to-earnings ratio of -212.45 and a beta of 0.95.

Institutional Trading of New Pacific Metals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC acquired a new stake in shares of New Pacific Metals in the fourth quarter valued at approximately $27,000. Dimensional Fund Advisors LP acquired a new position in New Pacific Metals during the third quarter worth $32,000. J.W. Cole Advisors Inc. bought a new position in New Pacific Metals in the fourth quarter valued at $53,000. Hollencrest Capital Management bought a new position in New Pacific Metals in the fourth quarter valued at $63,000. Finally, LPL Financial LLC bought a new position in New Pacific Metals in the fourth quarter valued at $64,000. 22.95% of the stock is currently 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.