Trek Financial LLC Takes Position in New Pacific Metals Corp. $NEWP

Trek Financial LLC acquired a new stake in New Pacific Metals Corp. (NYSEAMERICAN:NEWP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 227,704 shares of the scientific and technical instruments company’s stock, valued at approximately $799,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP acquired a new position in shares of New Pacific Metals in the 3rd quarter valued at about $32,000. Sprott Inc. lifted its stake in shares of New Pacific Metals by 1.1% in the 3rd quarter. Sprott Inc. now owns 1,296,531 shares of the scientific and technical instruments company’s stock valued at $3,505,000 after purchasing an additional 13,947 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of New Pacific Metals by 33.9% in the 2nd quarter. Bank of America Corp DE now owns 64,041 shares of the scientific and technical instruments company’s stock valued at $86,000 after purchasing an additional 16,213 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of New Pacific Metals in the 3rd quarter valued at about $50,000. Finally, Brookstone Capital Management acquired a new position in shares of New Pacific Metals in the 4th quarter valued at about $66,000. 22.95% of the stock is owned by institutional investors and hedge funds.

New Pacific Metals Stock Up 1.3%

NEWP stock opened at $6.05 on Wednesday. New Pacific Metals Corp. has a 52-week low of $1.11 and a 52-week high of $6.30. The stock’s 50 day moving average is $4.80 and its two-hundred day moving average is $3.81. The company has a market capitalization of $1.12 billion, a PE ratio of -201.67 and a beta of 0.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. ATB Cormark Capital Markets initiated coverage on New Pacific Metals in a research note on Friday, February 20th. They issued a “moderate buy” rating on the stock. Roth Mkm reiterated a “buy” rating and set a $6.00 target price (up from $4.25) on shares of New Pacific Metals in a report on Tuesday, February 24th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of New Pacific Metals in a report on Wednesday, January 14th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $6.00.

About New Pacific Metals

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.