Equinox Partners Investment Management LLC Acquires 1,044,000 Shares of New Pacific Metals Corp. $NEWP

Equinox Partners Investment Management LLC lifted its holdings in shares of New Pacific Metals Corp. (NYSEAMERICAN:NEWP) by 18.5% in the first quarter, HoldingsChannel.com reports. The firm owned 6,700,045 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,044,000 shares during the quarter. New Pacific Metals accounts for about 11.3% of Equinox Partners Investment Management LLC’s investment portfolio, making the stock its 3rd largest holding. Equinox Partners Investment Management LLC’s holdings in New Pacific Metals were worth $27,781,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC acquired a new stake in shares of New Pacific Metals during the 4th quarter worth about $27,000. Dimensional Fund Advisors LP acquired a new position in New Pacific Metals in the third quarter valued at about $32,000. Jane Street Group LLC acquired a new position in New Pacific Metals in the second quarter valued at about $44,000. Virtu Financial LLC purchased a new position in New Pacific Metals during the third quarter worth about $50,000. Finally, J.W. Cole Advisors Inc. purchased a new position in New Pacific Metals during the fourth quarter worth about $53,000. 22.95% of the stock is currently owned by hedge funds and other institutional investors.

New Pacific Metals Stock Down 1.2%

NYSEAMERICAN:NEWP opened at $4.02 on Wednesday. The stock’s fifty day moving average is $4.89 and its two-hundred day moving average is $4.35. New Pacific Metals Corp. has a 52 week low of $1.36 and a 52 week high of $6.30. The stock has a market capitalization of $742.69 million, a price-to-earnings ratio of -201.00 and a beta of 0.90.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated a “buy” rating and set a $7.25 price target 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, Based on data from MarketBeat.com, New Pacific Metals currently has an average rating of “Buy” and a consensus target price 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.