New Pacific Metals Corp. (NYSE: NEWP) (TSX: NUAG) is attracting increased attention from the financial community following site visits by analysts from BMO Capital Markets, Roth Capital Partners, and ATB Cormark Capital Markets to its two Bolivian projects, Silver Sands and Carangas. The visits have prompted bullish commentary and a higher price target from BMO, underscoring the company's potential to emerge as a major silver producer at a time when global silver demand continues to outstrip supply.
BMO Capital Markets raised its price target on New Pacific Metals to $12 from $8.82 after analyst Kevin O'Halloran visited the company's mines. O'Halloran cited momentum at both projects, including a framework agreement with the local community at Carangas signed earlier this year and Administrative Mining Contracts that the government is expected to sign by year-end. At Silver Sands, he noted continued progress with the community to advance development. "New Pacific's two flagship projects have made meaningful progress over the past two years, coinciding with a political shift in the country that appears significantly more receptive to private investment in natural resources projects," O'Halloran wrote. "Together, these projects represent meaningful silver production of over 27Mozpa, and we see valuation upside for NUAG shares as they are advanced. Our target increases to $12."
Roth Capital Partners analysts also visited both sites and suggested further catalysts could be on the horizon. "There appears to be significant regional exploration potential that could provide positive catalysts for New Pacific in the quarters ahead," wrote analyst Joe Reagor. At Carangas, the company had identified exploration targets outside the existing resource and had three drills operating at the time of the visit. Roth maintained a buy rating on the stock and downplayed community agreement challenges as within the normal scope of South American mine development.
ATB Cormark Capital Markets said the site visits reinforced its conviction that the two projects are among the "best undeveloped silver deposits globally." The firm anticipates positive headlines related to permitting and political developments, including the restructuring of Bolivia's Ministry of Mining and Metallurgy and new mining regulations aimed at attracting foreign capital. "Combined, New Pacific Metals' projects could produce nearly 20 million ounces per year of silver, enough to move the needle for any large primary-silver producer," the analysts wrote, adding that the combined production potential makes New Pacific Metals a clear takeout target if its projects are advanced through permitting.
The positive analyst sentiment comes as Bolivia's new government courts foreign investment in mining, and as silver demand from electric vehicles, AI data centers, and green energy continues to grow. According to the source, 2025 marked the fifth consecutive year of a supply/demand imbalance in silver. New Pacific Metals is advancing Silver Sands through a Pre-Feasibility Study with potential annual production of 12 million to 15 million ounces of silver, while Carangas features an updated Preliminary Economic Assessment with potential production of up to 15.5 million ounces annually during its initial high-grade phase. For more details on the Carangas project, click here.
The analyst visits and subsequent reports signal growing recognition of New Pacific Metals' development potential, which could help the company secure further investment and partnerships as it moves its projects toward production. This content was originally published on Benzinga. Read further disclosures here.
