New Pacific Metals (NYSEAMERICAN:NEWP) Shares Cross Above 200 Day Moving Average – Here’s What Happened

by · The Markets Daily

New Pacific Metals Corp. (NYSEAMERICAN:NEWP – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $5.07 and traded as high as $5.56. New Pacific Metals shares last traded at $5.54, with a volume of 676,479 shares.

Wall Street Analysts Forecast Growth

NEWP has been the subject of a number of research analyst reports. Roth Capital reaffirmed a “buy” rating and set a $8.75 price objective on shares of New Pacific Metals in a report on Thursday, September 17th. BMO Capital Markets reiterated an “outperform” rating on shares of New Pacific Metals in a research report on Monday, October 19th. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, New Pacific Metals presently has an average rating of “Buy” and an average price target of $8.75.

Check Out Our Latest Report on New Pacific Metals

New Pacific Metals Trading Up 6.2%

The firm has a 50-day moving average of $6.09 and a 200-day moving average of $5.08.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NEWP. Pasadena Private Wealth LLC purchased a new stake in New Pacific Metals during the 2nd quarter valued at $40,000. State of Wyoming purchased a new position in shares of New Pacific Metals in the second quarter valued at about $85,000. Public Employees Retirement System of Ohio purchased a new position in shares of New Pacific Metals in the second quarter valued at about $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of New Pacific Metals in the second quarter valued at about $159,000. Finally, BlackRock Inc. purchased a new position in shares of New Pacific Metals in the second quarter valued at about $275,000. 22.95% of the stock is owned by hedge funds and other institutional investors.

New Pacific Metals Company Profile

(Get Free Report)

New Pacific Metals Corp. is a Canadian mineral exploration and development company focused on discovering and advancing precious-metals projects in Bolivia. The company’s portfolio is centered on silver, with potential for associated gold and other metals.

Its flagship asset is the Silver Sand project in the Potosí Department of Bolivia, a large silver exploration and development project. New Pacific also holds the Carangas project in the Oruro Department and the Silverstrike project in Bolivia, expanding the company’s regional exploration pipeline.

New Pacific Metals has built its business around exploration, resource evaluation, technical studies and permitting rather than producing or selling refined metals.

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