Western Copper & Gold (NYSE:WRN) Trading Up 8.7% – Here’s Why

Western Copper & Gold Corp (NYSE:WRN) shares were up 8.7% during mid-day trading on Monday . The stock traded as high as $3.51 and last traded at $3.50. Approximately 944,085 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,400,464 shares. The stock had previously closed at $3.22.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their target price on Western Copper & Gold from $4.00 to $4.25 and gave the stock a “buy” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, Western Copper & Gold presently has an average rating of “Buy” and a consensus target price of $4.25.

Western Copper & Gold Stock Performance

The company has a fifty day simple moving average of $2.57 and a two-hundred day simple moving average of $1.95. The stock has a market capitalization of $691.03 million, a price-to-earnings ratio of -171.00 and a beta of 1.08.

Institutional Trading of Western Copper & Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in Western Copper & Gold by 33.0% in the third quarter. Tidal Investments LLC now owns 3,358,509 shares of the company’s stock valued at $6,616,000 after acquiring an additional 833,348 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Western Copper & Gold by 696.3% in the 3rd quarter. Bank of America Corp DE now owns 989,615 shares of the company’s stock valued at $1,950,000 after purchasing an additional 865,339 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Western Copper & Gold by 110.8% during the 3rd quarter. Mackenzie Financial Corp now owns 970,084 shares of the company’s stock worth $1,923,000 after buying an additional 510,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Western Copper & Gold by 98.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 488,693 shares of the company’s stock worth $555,000 after buying an additional 241,868 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in Western Copper & Gold by 2.4% in the third quarter. Gamco Investors INC. ET AL now owns 433,200 shares of the company’s stock valued at $853,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 21.96% of the company’s stock.

About Western Copper & Gold

Western Copper & Gold Corporation is a Canadian-based mineral exploration and development company focused on advancing large-scale copper and gold projects. Headquartered in Vancouver, British Columbia, the company is publicly traded on the New York Stock Exchange American under the ticker WRN and on the Toronto Stock Exchange under WRN. Its principal asset is the 100%-owned Casino Project, located in Canada’s Yukon Territory, which is recognized as one of the largest undeveloped copper-gold porphyry deposits in North America.

The company’s core activities encompass geological exploration, drilling, metallurgical testing and comprehensive feasibility studies.