Equinox Partners Investment Management LLC Increases Position in New Pacific Metals Corp. $NEWP

Equinox Partners Investment Management LLC boosted its holdings in New Pacific Metals Corp. (NYSEAMERICAN:NEWP) by 100.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,656,045 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,829,376 shares during the quarter. New Pacific Metals accounts for 10.3% of Equinox Partners Investment Management LLC’s investment portfolio, making the stock its 5th biggest holding. Equinox Partners Investment Management LLC’s holdings in New Pacific Metals were worth $19,781,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NEWP. Barclays PLC bought a new position in New Pacific Metals in the 4th quarter valued at about $27,000. Dimensional Fund Advisors LP bought a new position in New Pacific Metals in the 3rd quarter valued at about $32,000. Jane Street Group LLC bought a new position in New Pacific Metals in the 2nd quarter valued at about $44,000. Virtu Financial LLC bought a new stake in New Pacific Metals in the 3rd quarter worth about $50,000. Finally, J.W. Cole Advisors Inc. bought a new stake in New Pacific Metals in the 4th quarter worth about $53,000. Institutional investors own 22.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NEWP shares. Roth Mkm reaffirmed a “buy” rating and issued a $7.25 price objective on shares of New Pacific Metals in a research report on Monday, May 18th. ATB Cormark Capital Markets started 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $7.25.

New Pacific Metals Stock Performance

Shares of NEWP stock opened at $4.59 on Thursday. New Pacific Metals Corp. has a 52-week low of $1.28 and a 52-week high of $6.30. The company has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $4.27. The company has a market capitalization of $848.00 million, a price-to-earnings ratio of -229.50 and a beta of 0.90.

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.