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

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s stock price reached a new 52-week high on Friday . The stock traded as high as $6.37 and last traded at $6.2520, with a volume of 80086 shares trading hands. The stock had previously closed at $5.91.

Wall Street Analyst Weigh In

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

New Pacific Metals Stock Performance

The company has a market cap of $1.15 billion, a price-to-earnings ratio of -311.30 and a beta of 0.95. The company has a fifty day moving average of $4.40 and a two-hundred day moving average of $4.51.

Institutional Trading of New Pacific Metals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC acquired a new position in shares of New Pacific Metals in the fourth quarter valued at approximately $27,000. Dimensional Fund Advisors LP bought a new stake in New Pacific Metals during the 3rd quarter worth approximately $32,000. Jane Street Group LLC bought a new stake in New Pacific Metals during the 2nd quarter worth approximately $44,000. Virtu Financial LLC acquired a new position in New Pacific Metals in the 3rd quarter valued at approximately $50,000. Finally, J.W. Cole Advisors Inc. acquired a new position in New Pacific Metals in the 4th quarter valued at approximately $53,000. 22.95% of the stock is currently owned by 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.