Trek Financial LLC Acquires New Stake in New Pacific Metals Corp. $NEWP

Trek Financial LLC acquired a new stake in shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 227,704 shares of the scientific and technical instruments company’s stock, valued at approximately $799,000. Trek Financial LLC owned about 0.13% of New Pacific Metals as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NEWP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of New Pacific Metals by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,381,595 shares of the scientific and technical instruments company’s stock valued at $2,615,000 after acquiring an additional 225,931 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of New Pacific Metals by 28.6% during the first quarter. Goldman Sachs Group Inc. now owns 270,081 shares of the scientific and technical instruments company’s stock valued at $298,000 after acquiring an additional 60,014 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of New Pacific Metals during the second quarter valued at $44,000. Bank of America Corp DE boosted its stake in shares of New Pacific Metals by 33.9% during the second quarter. Bank of America Corp DE now owns 64,041 shares of the scientific and technical instruments company’s stock valued at $86,000 after acquiring an additional 16,213 shares during the last quarter. Finally, Alps Advisors Inc. boosted its stake in shares of New Pacific Metals by 115.9% during the third quarter. Alps Advisors Inc. now owns 2,026,168 shares of the scientific and technical instruments company’s stock valued at $5,491,000 after acquiring an additional 1,087,750 shares during the last quarter. Institutional investors and hedge funds own 22.95% of the company’s stock.

Wall Street Analyst Weigh In

NEWP has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $6.00 price objective (up from $4.25) on shares of New Pacific Metals in a research note on Tuesday, February 24th. ATB Cormark Capital Markets started coverage on New Pacific Metals in a research note on Friday, February 20th. They issued a “moderate buy” rating on the stock. Finally, Raymond James Financial reissued an “outperform” rating on shares of New Pacific Metals in a research note on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $6.00.

New Pacific Metals Trading Up 1.3%

Shares of NYSEAMERICAN:NEWP opened at $6.05 on Wednesday. The stock’s 50-day moving average price is $4.80 and its two-hundred day moving average price is $3.81. New Pacific Metals Corp. has a 12-month low of $1.11 and a 12-month high of $6.30. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -201.67 and a beta of 0.94.

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.