New Pacific Metals (NYSEAMERICAN:NEWP) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.14 and traded as high as $4.67. New Pacific Metals shares last traded at $4.24, with a volume of 1,077,508 shares changing hands.

Wall Street Analyst Weigh In

NEWP has been the subject of a number of recent analyst reports. Roth Mkm reissued a “buy” rating and set a $7.25 target price on shares of New Pacific Metals in a research report on Monday, May 18th. ATB Cormark Capital Markets initiated coverage on shares of New Pacific Metals in a research report on Friday, February 20th. They issued a “moderate buy” rating for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.25.

New Pacific Metals Price Performance

The firm has a market capitalization of $783.34 million, a PE ratio of -212.00 and a beta of 0.90. The company’s fifty day simple moving average is $4.99 and its 200 day simple moving average is $4.14.

Institutional Investors Weigh In On New Pacific Metals

Several hedge funds and other institutional investors have recently modified their holdings of NEWP. Barclays PLC bought a new stake in shares of New Pacific Metals during the fourth quarter valued at about $27,000. Dimensional Fund Advisors LP bought a new stake in shares of New Pacific Metals during the third quarter valued at about $32,000. Jane Street Group LLC bought a new stake in shares of New Pacific Metals during the second quarter valued at about $44,000. Virtu Financial LLC bought a new stake in shares of New Pacific Metals during the third quarter valued at about $50,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of New Pacific Metals during the fourth quarter valued at about $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.