Legal & General Group Plc Makes New Investment in New Pacific Metals Corp. $NEWP

Legal & General Group Plc bought a new position in New Pacific Metals Corp. (NYSEAMERICAN:NEWP) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 87,731 shares of the scientific and technical instruments company’s stock, valued at approximately $354,000.

Several other institutional investors also recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in shares of New Pacific Metals during the first quarter valued at approximately $1,493,000. Equinox Partners Investment Management LLC boosted its position in New Pacific Metals by 100.1% in the fourth quarter. Equinox Partners Investment Management LLC now owns 5,656,045 shares of the scientific and technical instruments company’s stock worth $19,781,000 after purchasing an additional 2,829,376 shares during the last quarter. Trek Financial LLC purchased a new position in New Pacific Metals in the fourth quarter worth $799,000. Helikon Investments Ltd bought a new position in New Pacific Metals in the 4th quarter valued at $8,050,000. Finally, Jupiter Asset Management Ltd. grew its stake in New Pacific Metals by 5.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 13,176,710 shares of the scientific and technical instruments company’s stock valued at $46,141,000 after purchasing an additional 722,700 shares during the period. 22.95% of the stock is owned by institutional investors.

New Pacific Metals Stock Down 3.6%

NEWP opened at $5.95 on Wednesday. New Pacific Metals Corp. has a twelve month low of $1.98 and a twelve month high of $7.55. The company’s 50-day moving average price is $5.45 and its two-hundred day moving average price is $4.98. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -297.50 and a beta of 1.02.

Analyst Ratings Changes

Separately, Roth Capital reaffirmed a “buy” rating and set a $7.25 target price on shares of New Pacific Metals in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, New Pacific Metals currently has an average rating of “Buy” and an average target price of $7.25.

New Pacific Metals 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.