New Pacific Metals (NYSEAMERICAN:NEWP) Stock Price Down 3.6% – Should You Sell?

New Pacific Metals Corp. (NYSEAMERICAN:NEWP)’s share price dropped 3.6% on Friday . The company traded as low as $6.60 and last traded at $6.60. Approximately 207,698 shares were traded during trading, a decline of 78% from the average session volume of 958,662 shares. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

Separately, Roth Capital reissued a “buy” rating and issued a $7.25 target price on shares of New Pacific Metals in a research note on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $7.25.

New Pacific Metals Stock Down 3.6%

The firm has a market cap of $1.22 billion, a P/E ratio of -330.00 and a beta of 0.95. The firm’s fifty day moving average is $4.86 and its two-hundred day moving average is $4.70.

Institutional Investors Weigh In On New Pacific Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC purchased a new position in shares of New Pacific Metals during the fourth quarter valued at about $27,000. Pasadena Private Wealth LLC purchased a new stake in New Pacific Metals in the second quarter worth about $40,000. Dimensional Fund Advisors LP purchased a new stake in New Pacific Metals in the third quarter worth about $32,000. J.W. Cole Advisors Inc. bought a new stake in New Pacific Metals during the 4th quarter valued at approximately $53,000. Finally, Bank of America Corp DE boosted its position in New Pacific Metals by 33.9% during the 2nd quarter. Bank of America Corp DE now owns 64,041 shares of the scientific and technical instruments company’s stock valued at $86,000 after acquiring an additional 16,213 shares in the last quarter. 22.95% of the stock is owned by hedge funds and other 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.