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

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

Analysts Set New Price Targets

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

New Pacific Metals Stock Performance

The stock’s 50 day moving average price is $4.40 and its 200 day moving average price is $4.51. The company has a market capitalization of $1.15 billion, a P/E ratio of -311.30 and a beta of 0.95.

Institutional Investors Weigh In On New Pacific Metals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC acquired a new position in New Pacific Metals in the fourth quarter valued at approximately $27,000. Dimensional Fund Advisors LP acquired a new stake in shares of New Pacific Metals during the 3rd quarter worth approximately $32,000. J.W. Cole Advisors Inc. bought a new stake in shares of New Pacific Metals in the 4th quarter valued at $53,000. Hollencrest Capital Management acquired a new position in shares of New Pacific Metals during the 4th quarter valued at $63,000. Finally, LPL Financial LLC acquired a new stake in New Pacific Metals in the fourth quarter worth $64,000. Institutional investors own 22.95% of the company’s stock.

About New Pacific Metals

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.