New Pacific Metals (NYSEAMERICAN:NEWP) Sets New 12-Month High – What’s Next?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.72 and last traded at $6.61, with a volume of 441854 shares trading hands. The stock had previously closed at $6.51.

Wall Street Analyst Weigh In

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

New Pacific Metals Stock Up 1.5%

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -330.50 and a beta of 0.95. The company’s 50-day moving average is $4.52 and its 200-day moving average is $4.58.

Hedge Funds Weigh In On New Pacific Metals

Hedge funds have recently modified their holdings of the stock. Trek Financial LLC bought a new position in shares of New Pacific Metals during the 4th quarter worth approximately $799,000. Equinox Partners Investment Management LLC grew its position in New Pacific Metals by 100.1% in the fourth quarter. Equinox Partners Investment Management LLC now owns 5,656,045 shares of the scientific and technical instruments company’s stock valued at $19,781,000 after acquiring an additional 2,829,376 shares during the period. Helikon Investments Ltd bought a new stake in New Pacific Metals in the fourth quarter valued at $8,050,000. Jupiter Asset Management Ltd. raised its stake 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 in the last quarter. Finally, Pasadena Private Wealth LLC bought a new position in shares of New Pacific Metals during the second quarter valued at $40,000. 22.95% of the stock is owned by institutional investors and hedge funds.

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.