New Pacific Metals (NYSEAMERICAN:NEWP) Stock Price Up 6.6% – What’s Next?

Shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP) were up 6.6% on Wednesday . The stock traded as high as $6.29 and last traded at $6.3450. Approximately 121,431 shares changed hands during trading, a decline of 87% from the average daily volume of 937,008 shares. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

Separately, Roth Capital reissued a “buy” rating and issued a $7.25 target price 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 MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $7.25.

New Pacific Metals Price Performance

The business’s 50-day moving average is $5.45 and its two-hundred day moving average is $4.98. The firm has a market cap of $1.15 billion, a P/E ratio of -310.85 and a beta of 1.02.

Hedge Funds Weigh In On New Pacific Metals

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in New Pacific Metals during the second quarter worth about $100,000. Bank of America Corp DE bought a new position in New Pacific Metals in the second quarter valued at approximately $2,378,000. Legal & General Group Plc acquired a new position in shares of New Pacific Metals during the 2nd quarter worth approximately $354,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of New Pacific Metals during the 2nd quarter worth approximately $159,000. Finally, Quantbot Technologies LP bought a new stake in shares of New Pacific Metals during the 2nd quarter worth approximately $329,000. 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.