New Pacific Metals (NYSEAMERICAN:NEWP) Shares Down 6.8% – Time to Sell?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s share price was down 6.8% on Thursday . The stock traded as low as $4.33 and last traded at $4.2760. 290,680 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,068,240 shares. The stock had previously closed at $4.59.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. ATB Cormark Capital Markets began coverage on shares of New Pacific Metals in a research report on Friday, February 20th. They issued a “moderate buy” rating for the company. Roth Mkm restated a “buy” rating and issued a $7.25 target price on shares of New Pacific Metals in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, New Pacific Metals presently has a consensus rating of “Buy” and an average price target of $7.25.

New Pacific Metals Stock Performance

The company has a market cap of $775.95 million, a PE ratio of -210.00 and a beta of 0.90. The company has a 50 day simple moving average of $5.05 and a two-hundred day simple moving average of $4.29.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in shares of New Pacific Metals in the fourth quarter worth $27,000. Dimensional Fund Advisors LP purchased a new position in New Pacific Metals in the third quarter valued at about $32,000. Sprott Inc. grew its stake in New Pacific Metals by 1.1% in the third quarter. Sprott Inc. now owns 1,296,531 shares of the scientific and technical instruments company’s stock valued at $3,505,000 after purchasing an additional 13,947 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in New Pacific Metals in the 4th quarter worth about $53,000. Finally, Bank of America Corp DE increased its position in New Pacific Metals by 33.9% in the 2nd quarter. Bank of America Corp DE now owns 64,041 shares of the scientific and technical instruments company’s stock worth $86,000 after purchasing an additional 16,213 shares during the last quarter. Institutional investors and hedge funds 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.