New Pacific Metals (NYSEAMERICAN:NEWP) Stock Price Down 6.4% – Should You Sell?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) shares traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $5.52 and last traded at $5.4950. 227,360 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 936,367 shares. The stock had previously closed at $5.87.

New Pacific Metals Trading Down 2.6%

The business’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $5.03. The company has a market capitalization of $1.03 billion, a P/E ratio of -277.50 and a beta of 1.02.

Institutional Trading of New Pacific Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jupiter Asset Management Ltd. grew its holdings in New Pacific Metals by 5.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 13,176,710 shares of the scientific and technical instruments company’s stock worth $46,141,000 after acquiring an additional 722,700 shares during the period. Equinox Partners Investment Management LLC grew its stake in shares of New Pacific Metals by 18.5% in the 1st quarter. Equinox Partners Investment Management LLC now owns 6,700,045 shares of the scientific and technical instruments company’s stock worth $27,781,000 after purchasing an additional 1,044,000 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of New Pacific Metals in the 2nd quarter worth approximately $2,378,000. Renaissance Technologies LLC bought a new stake in shares of New Pacific Metals in the 1st quarter worth approximately $1,493,000. Finally, Auxano Advisors LLC bought a new stake in shares of New Pacific Metals in the 2nd quarter worth approximately $394,000. Institutional investors own 22.95% of the company’s stock.

About New Pacific Metals

New Pacific Metals Corp. is a Canadian mineral exploration and development company focused on advancing silver properties in Bolivia. Its principal project is the Silver Sand silver project in the Potosí Department, a region with a long history of silver mining.

The company is also advancing the Carangas silver-gold project in western Bolivia and the Silverstrike project in the La Paz Department. Its activities include geological exploration, drilling, resource evaluation, technical studies and permitting intended to assess the potential development of these properties.

New Pacific Metals is headquartered in Vancouver, British Columbia, and its shares trade on the NYSE American under the symbol NEWP.