New Pacific Metals (NYSEAMERICAN:NEWP) Sets New 52-Week High – Still a Buy?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) hit a new 52-week high during trading on Monday . The company traded as high as $6.00 and last traded at $5.9430, with a volume of 327491 shares trading hands. The stock had previously closed at $5.63.

Wall Street Analyst Weigh In

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

New Pacific Metals Stock Performance

The company has a market capitalization of $1.09 billion, a PE ratio of -197.33 and a beta of 0.94. The stock’s fifty day simple moving average is $4.76 and its 200-day simple moving average is $3.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its holdings in New Pacific Metals by 5.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 13,176,710 shares of the scientific and technical instruments company’s stock valued at $46,141,000 after purchasing an additional 722,700 shares in the last quarter. Equinox Partners Investment Management LLC lifted its holdings in shares of New Pacific Metals by 18.5% during 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 acquiring an additional 1,044,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of New Pacific Metals by 42.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,992,253 shares of the scientific and technical instruments company’s stock worth $10,788,000 after acquiring an additional 1,180,666 shares during the period. Alps Advisors Inc. lifted its holdings in shares of New Pacific Metals by 42.1% during the 4th quarter. Alps Advisors Inc. now owns 2,878,543 shares of the scientific and technical instruments company’s stock worth $10,104,000 after acquiring an additional 852,375 shares during the period. Finally, Helikon Investments Ltd purchased a new position in shares of New Pacific Metals during the 4th quarter worth about $8,050,000. 22.95% of the stock is currently owned by hedge funds and other institutional investors.

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.