New Pacific Metals (NYSEAMERICAN:NEWP) Reaches New 1-Year High – Should You Buy?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) shares hit a new 52-week high during trading on Thursday . The company 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 Ratings Changes

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

New Pacific Metals Trading Down 3.6%

The business has a 50-day simple moving average of $4.86 and a 200 day simple moving average of $4.70. The stock has a market cap of $1.22 billion, a P/E ratio of -330.00 and a beta of 0.95.

Institutional Trading of New Pacific Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in shares of New Pacific Metals in the 4th quarter worth approximately $27,000. Pasadena Private Wealth LLC bought a new stake in shares of New Pacific Metals in the 2nd quarter valued at $40,000. Dimensional Fund Advisors LP acquired a new stake in shares of New Pacific Metals during the third quarter worth $32,000. J.W. Cole Advisors Inc. bought a new position in New Pacific Metals during the fourth quarter worth $53,000. Finally, Bank of America Corp DE raised its stake in New Pacific Metals by 33.9% during the second quarter. Bank of America Corp DE now owns 64,041 shares of the scientific and technical instruments company’s stock worth $86,000 after buying an additional 16,213 shares during the last quarter. Institutional investors and hedge funds own 22.95% of the company’s stock.

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.