12 Best Canadian Penny Stocks to Buy According to Analysts

9. New Pacific Metals Corp. (NYSEAMERICAN:NEWP)  

Upside Potential: 145.74%  

Stock Price as of January 5: $1.29  

Number of Hedge Fund Holders: 8  

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) is a Vancouver, Canada-based company focused on exploring and developing silver deposits in Bolivia. The company has a strong portfolio of projects, including the Silver Sand and Carangas deposits.

New Pacific Metals Corp. (NYSEAMERICAN:NEWP) is actively advancing its Silver Sand project, located 35 kilometers from the city of Potosi, Bolivia. The company has allocated funds for exploration expenditures on this project and has completed a Pre-Feasibility Study to ultimately bring the mine into production. The Pre-Feasibility Study indicates that the Silver Sand project will produce approximately 157 million ounces of silver over a 13-year mine life, at an average all-in sustaining cost (AISC) of $10.69 per ounce. This project has the potential to be a game-changer for New Pacific Metals Corp. (NYSEAMERICAN:NEWP), and the company is working diligently to secure the necessary permits and funding to bring it to fruition.

To further advance the Silver Sand project, New Pacific Metals Corp. (NYSEAMERICAN:NEWP) is working to complete an Environmental Impact Assessment (EIA) and secure the necessary environmental permits. The company is also engaging with local communities to finalize a resettlement and compensation plan, which is a critical step in the development process.