Quantbot Technologies LP Makes New Investment in New Pacific Metals Corp. $NEWP

Quantbot Technologies LP acquired a new position in New Pacific Metals Corp. (NYSEAMERICAN:NEWP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 81,863 shares of the scientific and technical instruments company’s stock, valued at approximately $329,000.

A number of other large investors have also recently made changes to their positions in the stock. Barclays PLC bought a new position in shares of New Pacific Metals during the 4th quarter valued at approximately $27,000. Dimensional Fund Advisors LP bought a new stake in New Pacific Metals during the 3rd quarter worth approximately $32,000. Pasadena Private Wealth LLC purchased a new position in New Pacific Metals during the second quarter valued at approximately $40,000. Jane Street Group LLC purchased a new position in New Pacific Metals during the second quarter valued at approximately $44,000. Finally, Virtu Financial LLC purchased a new position in New Pacific Metals during the third quarter valued at approximately $50,000. 22.95% of the stock is owned by hedge funds and other institutional investors.

New Pacific Metals Stock Down 4.9%

NYSEAMERICAN:NEWP opened at $7.05 on Friday. The business’s 50-day simple moving average is $5.11 and its two-hundred day simple moving average is $4.83. New Pacific Metals Corp. has a 52 week low of $1.66 and a 52 week high of $7.55. The stock has a market cap of $1.31 billion, a PE ratio of -352.50 and a beta of 0.95.

Wall Street Analysts Forecast Growth

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

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.