Roth MKM analyst Joe Reagor lowered the firm’s price target on New Pacific Metals to $5 from $6 and keeps a Buy rating on the shares. The company’s Pre-Feasibility Study of the Silver Sand Project confirmed that Silver Sand has robust economics, but market valuations for precious metal exploration companies have remained weak despite improved commodity prices, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NEWP: