Helikon Investments Ltd Takes $8.05 Million Position in New Pacific Metals Corp. $NEWP

Helikon Investments Ltd purchased a new stake in New Pacific Metals Corp. (NYSEAMERICAN:NEWP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,293,539 shares of the scientific and technical instruments company’s stock, valued at approximately $8,050,000. New Pacific Metals accounts for approximately 0.4% of Helikon Investments Ltd’s holdings, making the stock its 15th biggest holding. Helikon Investments Ltd owned 1.34% of New Pacific Metals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new position in shares of New Pacific Metals in the third quarter valued at approximately $32,000. Jane Street Group LLC acquired a new position in shares of New Pacific Metals in the second quarter valued at approximately $44,000. Virtu Financial LLC acquired a new position in shares of New Pacific Metals during the third quarter worth about $50,000. Brookstone Capital Management acquired a new position in shares of New Pacific Metals during the fourth quarter worth about $66,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of New Pacific Metals during the fourth quarter worth about $70,000. Institutional investors and hedge funds own 22.95% of the company’s stock.

New Pacific Metals Trading Down 4.3%

Shares of NEWP opened at $5.33 on Friday. New Pacific Metals Corp. has a 12 month low of $1.11 and a 12 month high of $6.30. The firm has a fifty day simple moving average of $4.81 and a 200 day simple moving average of $3.87. The stock has a market capitalization of $984.72 million, a price-to-earnings ratio of -266.50 and a beta of 0.94.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEWP. ATB Cormark Capital Markets began coverage on New Pacific Metals in a research report on Friday, February 20th. They set a “moderate buy” rating for the company. Roth Mkm reaffirmed a “buy” rating and set a $6.00 price objective (up from $4.25) on shares of New Pacific Metals in a research report on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, New Pacific Metals currently has an average rating of “Buy” and an average price target of $6.00.

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.