New Pacific Metals Corp. (NYSE: NEWP) (TSX: NUAG) is drawing increased attention from the financial community following site visits by analysts to its two Bolivian silver projects, Silver Sands and Carangas. The visits, conducted by analysts from BMO Capital Markets, Roth Capital Partners, and ATB Cormark Capital Markets, have reinforced confidence in the company's development potential and its ability to capitalize on a tightening global silver market.
BMO Capital Markets raised its price target on New Pacific Metals to $12 from $8.82 after analyst Kevin O'Halloran visited the projects. O'Halloran cited meaningful progress at both sites, including a framework agreement with the local community at Carangas and the expected signing of Administrative Mining Contracts by the government by year-end. He also noted that Silver Sands continues to advance with community support. "Together, these projects represent meaningful silver production of over 27Mozpa, and we see valuation upside for NUAG shares as they are advanced," O'Halloran wrote.
Roth Capital Partners analysts, who also visited both mines in October, suggested that further catalysts could be on the horizon. Analyst Joe Reagor pointed to significant regional exploration potential at Carangas, where New Pacific has identified targets outside the existing resource and had three drills operating during the visit. Roth maintains a buy rating on the stock. The analysts acknowledged that community agreements are still needed at Silver Sands but characterized such challenges as normal for South American mine development and not a barrier to progress.
ATB Cormark Capital Markets expressed even stronger conviction, calling the two projects among the "best undeveloped silver deposits globally." The firm highlighted the improving political climate in Bolivia, including the removal of roadblocks and government efforts to restructure the Ministry of Mining and Metallurgy and draft new mining regulations to attract foreign investment. "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 company could become a clear takeout target if the projects are advanced through permitting.
The positive analyst commentary comes as global silver demand continues to outstrip supply, driven by electric vehicles, AI data centers, and green energy. 2025 marked the fifth consecutive year of a supply/demand imbalance. New Pacific Metals is positioning itself to help fill that gap. Silver Sands is in the Pre-Feasibility Study phase with potential annual production of 12 million to 15 million ounces, while Carangas has an updated Preliminary Economic Assessment indicating up to 15.5 million ounces annually during its initial high-grade phase. The company is currently conducting a 30,000-metre drill campaign at Carangas. For more details on the Carangas project, click here.
Bolivia's new government is actively courting foreign investment and mining partnerships, a shift that analysts view as key to de-risking the projects. The restructuring of the mining ministry and the drafting of new regulations aimed at attracting foreign capital are seen as potential positive catalysts. ATB Cormark noted that the government has shown interest in prioritizing tier-1 silver projects, which favors New Pacific Metals. As the company advances both projects simultaneously, Wall Street appears to be taking notice. The original content was published on Benzinga and is available via NEWMEDIAWIRE.
