Renaissance Technologies LLC Purchases Shares of 360,608 New Pacific Metals Corp. $NEWP

Renaissance Technologies LLC bought a new position in New Pacific Metals Corp. (NYSEAMERICAN:NEWP) during the 1st quarter, Holdings Channel.com reports. The fund bought 360,608 shares of the scientific and technical instruments company’s stock, valued at approximately $1,493,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in shares of New Pacific Metals in the 4th quarter worth $27,000. Dimensional Fund Advisors LP bought a new position in New Pacific Metals during the third quarter valued at $32,000. Jane Street Group LLC purchased a new stake in New Pacific Metals in the 2nd quarter worth about $44,000. Virtu Financial LLC purchased a new stake in shares of New Pacific Metals in the third quarter worth approximately $50,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in New Pacific Metals in the fourth quarter worth $53,000. 22.95% of the stock is owned by institutional investors.

New Pacific Metals Stock Performance

Shares of NEWP opened at $6.61 on Thursday. The stock has a 50-day moving average of $4.52 and a two-hundred day moving average of $4.58. The stock has a market cap of $1.22 billion, a P/E ratio of -330.50 and a beta of 0.95. New Pacific Metals Corp. has a one year low of $1.55 and a one year high of $6.72.

Analyst Upgrades and Downgrades

Separately, Roth Capital restated a “buy” rating and set a $7.25 price objective 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, the stock presently has an average rating of “Buy” and a consensus 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.