New Pacific Metals (NYSEAMERICAN:NEWP) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $5.13 and traded as high as $6.47. New Pacific Metals shares last traded at $6.28, with a volume of 473,216 shares traded.

Analyst Upgrades and Downgrades

Separately, Roth Capital reaffirmed a “buy” rating and issued a $8.75 price objective on shares of New Pacific Metals in a research note on Thursday, September 17th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $8.75.

New Pacific Metals Stock Down 0.4%

The company has a market cap of $1.16 billion, a PE ratio of -311.75 and a beta of 0.97. The firm’s fifty day simple moving average is $6.15 and its 200-day simple moving average is $5.14.

Hedge Funds Weigh In On New Pacific Metals

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in New Pacific Metals during the 2nd quarter worth about $100,000. Bank of America Corp DE purchased a new stake in New Pacific Metals in the second quarter valued at approximately $2,378,000. Legal & General Group Plc acquired a new position in New Pacific Metals during the second quarter worth approximately $354,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in New Pacific Metals during the second quarter worth approximately $159,000. Finally, Quantbot Technologies LP purchased a new position in New Pacific Metals during the second quarter worth approximately $329,000. 22.95% of the stock is owned by institutional investors and hedge funds.

About New Pacific Metals

New Pacific Metals Corp. is a Canadian mineral exploration and development company focused on discovering and advancing precious-metal projects in Bolivia. The company’s portfolio is centered on silver, with its activities involving geological exploration, resource evaluation, engineering studies and permitting rather than the operation of producing mines.

New Pacific’s flagship asset is the Silver Sand project in the Potosí Department of Bolivia. The company is also advancing the Carangas project in Bolivia’s Oruro Department and the Silverstrike project in the La Paz Department.