New Pacific Metals (NYSEAMERICAN:NEWP) Stock Breaks Above Two Hundred Day Moving Average – Should You Sell?

Shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.22 and traded as high as $6.35. New Pacific Metals shares last traded at $6.25, with a volume of 522,558 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Roth Capital reiterated a “buy” rating and set a $8.75 price objective on shares of New Pacific Metals in a research report on Thursday, September 17th. Four investment analysts have rated the stock with a Buy rating. According to MarketBeat, New Pacific Metals has an average rating of “Buy” and an average target price of $8.75.

New Pacific Metals Stock Up 5.3%

The company’s 50-day moving average is $6.36 and its 200-day moving average is $5.23. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -329.00 and a beta of 0.97.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEWP. Pasadena Private Wealth LLC acquired a new position in shares of New Pacific Metals in the 2nd quarter valued at $40,000. State of Wyoming purchased a new position in shares of New Pacific Metals during the 2nd quarter worth approximately $85,000. Public Employees Retirement System of Ohio acquired a new stake in New Pacific Metals in the 2nd quarter valued at approximately $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in New Pacific Metals in the second quarter valued at approximately $159,000. Finally, BlackRock Inc. acquired a new position in New Pacific Metals during the second quarter worth $275,000. 22.95% of the stock is currently owned by hedge funds and other institutional investors.

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.