Jupiter Asset Management Ltd. Increases Position in New Pacific Metals Corp. $NEWP

Jupiter Asset Management Ltd. lifted its position in shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP) by 5.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,176,710 shares of the scientific and technical instruments company’s stock after buying an additional 722,700 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 7.67% of New Pacific Metals worth $46,141,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NEWP. Helikon Investments Ltd purchased a new stake in New Pacific Metals in the 4th quarter worth $8,050,000. Mesirow Financial Investment Management Inc. bought a new position in shares of New Pacific Metals in the fourth quarter worth about $70,000. Trek Financial LLC bought a new position in shares of New Pacific Metals in the fourth quarter worth about $799,000. LOM Asset Management Ltd purchased a new stake in shares of New Pacific Metals during the fourth quarter worth about $133,000. Finally, Brookwood Investment Group LLC purchased a new stake in shares of New Pacific Metals during the fourth quarter worth about $234,000. Institutional investors own 22.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have 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 for the company. Roth Mkm reissued a “buy” rating and issued a $7.25 target price on shares of New Pacific Metals in a report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $7.25.

New Pacific Metals Trading Up 4.2%

Shares of New Pacific Metals stock opened at $4.95 on Friday. The firm has a market cap of $914.51 million, a PE ratio of -247.50 and a beta of 0.94. The stock has a 50 day moving average of $4.86 and a 200 day moving average of $4.05. New Pacific Metals Corp. has a 12 month low of $1.28 and a 12 month high of $6.30.

New Pacific Metals 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.