Shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP – Get Free Report) were down 8.3% on Thursday . The company traded as low as $5.30 and last traded at $5.4740. Approximately 179,405 shares were traded during trading, a decline of 82% from the average daily volume of 1,019,222 shares. The stock had previously closed at $5.97.
Analyst Ratings Changes
A number of analysts have weighed in on NEWP shares. Roth Mkm reissued a “buy” rating and set a $6.00 price objective (up from $4.25) on shares of New Pacific Metals in a report on Tuesday, February 24th. ATB Cormark Capital Markets started coverage on shares of New Pacific Metals in a report on Friday, February 20th. They issued a “moderate buy” rating on the stock. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, New Pacific Metals has a consensus rating of “Buy” and a consensus target price of $6.00.
Check Out Our Latest Stock Report on NEWP
New Pacific Metals Trading Down 4.3%
Hedge Funds Weigh In On New Pacific Metals
Several institutional investors have recently bought and sold shares of NEWP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in New Pacific Metals by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,381,595 shares of the scientific and technical instruments company’s stock valued at $2,615,000 after buying an additional 225,931 shares during the period. Goldman Sachs Group Inc. increased its stake in New Pacific Metals by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 270,081 shares of the scientific and technical instruments company’s stock valued at $298,000 after buying an additional 60,014 shares during the period. Jane Street Group LLC acquired a new position in New Pacific Metals in the 2nd quarter valued at $44,000. Bank of America Corp DE increased its stake in 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 buying an additional 16,213 shares during the period. Finally, Alps Advisors Inc. increased its stake in New Pacific Metals by 115.9% in the 3rd quarter. Alps Advisors Inc. now owns 2,026,168 shares of the scientific and technical instruments company’s stock valued at $5,491,000 after buying an additional 1,087,750 shares during the period. 22.95% of the stock is owned by institutional investors and hedge funds.
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 Potosà 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.
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