New Pacific Metals (NYSEAMERICAN:NEWP) Reaches New 52-Week High – Here’s Why

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $7.03 and last traded at $6.99, with a volume of 166448 shares changing hands. The stock had previously closed at $6.83.

Analyst Upgrades and Downgrades

Separately, Roth Capital reissued a “buy” rating and issued a $7.25 price objective on shares of New Pacific Metals in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, New Pacific Metals presently has a consensus rating of “Buy” and a consensus price target of $7.25.

New Pacific Metals Trading Up 1.0%

The firm’s 50-day moving average price is $4.77 and its two-hundred day moving average price is $4.67. The stock has a market cap of $1.28 billion, a PE ratio of -345.00 and a beta of 0.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NEWP. Barclays PLC purchased a new stake in shares of New Pacific Metals during the 4th 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. Pasadena Private Wealth LLC bought a new position in New Pacific Metals in the second quarter worth about $40,000. Jane Street Group LLC bought a new position in New Pacific Metals in the second quarter worth about $44,000. Finally, Virtu Financial LLC purchased a new stake in shares of New Pacific Metals during the third quarter valued at about $50,000. 22.95% of the stock is currently owned by hedge funds and other institutional investors.

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.