Legal & General Group Plc Invests $354,000 in New Pacific Metals Corp. $NEWP

Legal & General Group Plc acquired a new stake in New Pacific Metals Corp. (NYSEAMERICAN:NEWP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 87,731 shares of the scientific and technical instruments company’s stock, valued at approximately $354,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEWP. Barclays PLC acquired a new stake in New Pacific Metals during the fourth quarter worth approximately $27,000. Pasadena Private Wealth LLC acquired a new stake in shares of New Pacific Metals during the 2nd quarter worth approximately $40,000. Dimensional Fund Advisors LP bought a new stake in New Pacific Metals in the third quarter valued at $32,000. J.W. Cole Advisors Inc. acquired a new position in shares of New Pacific Metals during the fourth quarter valued at about $53,000. Finally, Bank of America Corp DE boosted its position in shares of New Pacific Metals by 33.9% during the 2nd quarter. Bank of America Corp DE now owns 64,041 shares of the scientific and technical instruments company’s stock worth $86,000 after purchasing an additional 16,213 shares in the last quarter. Institutional investors own 22.95% of the company’s stock.

New Pacific Metals Stock Down 3.6%

Shares of NEWP opened at $5.95 on Wednesday. The business’s fifty day moving average is $5.45 and its 200 day moving average is $4.98. New Pacific Metals Corp. has a 12-month low of $1.98 and a 12-month high of $7.55. The stock has a market cap of $1.10 billion, a P/E ratio of -297.50 and a beta of 1.02.

Analysts Set New Price Targets

Separately, Roth Capital reaffirmed a “buy” rating and issued a $7.25 target price on shares of New Pacific Metals in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $7.25.

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.