New Pacific Metals (NYSEAMERICAN:NEWP) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $5.12 and traded as low as $5.04. New Pacific Metals shares last traded at $5.06, with a volume of 314,411 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of New Pacific Metals in a report on Monday, October 19th. Roth Capital reiterated a “buy” rating and issued a $8.75 target price on shares of New Pacific Metals in a report on Thursday, September 17th. Four investment analysts have rated the stock with a Buy rating. According to MarketBeat, New Pacific Metals currently has an average rating of “Buy” and an average target price of $8.75.

New Pacific Metals Stock Performance

The stock has a market cap of $939.29 million, a PE ratio of -168.67 and a beta of 1.02. The business has a 50 day moving average price of $5.97 and a two-hundred day moving average price of $5.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pasadena Private Wealth LLC bought a new position in New Pacific Metals in the 2nd quarter valued at $40,000. State of Wyoming purchased a new position in shares of New Pacific Metals in the 2nd quarter worth about $85,000. Public Employees Retirement System of Ohio purchased a new position in shares of New Pacific Metals in the 2nd quarter worth about $100,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in New Pacific Metals during the second quarter valued at about $159,000. Finally, BlackRock Inc. bought a new position in New Pacific Metals during the second quarter valued at about $275,000. Hedge funds and other institutional investors own 22.95% of the company’s stock.

About New Pacific Metals

New Pacific Metals is a Canadian mineral exploration and development company focused on discovering and advancing silver and other precious-metals projects in Bolivia. Its work includes exploration, resource evaluation and studies to assess the potential development of its properties. The company’s principal projects include the Silver Sand silver project in the Potosí region and the Carangas silver-gold project in the Oruro region. It also holds the Silverstrike project in Bolivia. New Pacific Metals is focused on advancing its Bolivian projects and does not describe itself as a current producer of silver or gold.