Last Friday, there was not a lot of movement in the New Pacific Metals Corp (NYSEAMERICAN:NEWP) and it traded within a range. However, at the same time, it ought to be noted that the company was actually in the news cycle on Friday and it may be a good idea to take a look into it.
On Friday, NEWP stock gained 1.15% to $2.65 with more than 108k shares, compared to its average volume of 184K shares. The stock moved within a range of $2.5900 – 2.6800 after opening trade at $2.60.
New Pacific Reports Financial Results
The company announced its consolidated but unaudited financial results for the three months and six months periods, both of which ended on December 31, 2022. The company announced that in the three month period, it had suffered a net loss attributable to shareholders to the tune of as much as $1295940. That worked out to losses of $0.01 a share.
In this context, it ought to be noted that in those three months, the company’s operating expenses went up to $1364790 from $1251742 in the prior year period. On the other hand, the net loss that could be attributable to shareholders in the six month period, came in at $2674167. That worked out to losses of $0.02 a share for the shareholders. It is going to be interesting to see if there is any impact on the stock price this week.
NEWP stock is trading below the 20-Day and 50-Day Moving averages of $2.79 and $2.86 respectively. Moreover, the stock is trading below the 200-Day moving average of $3.83. The stock is down 26% in the past 3-month.