Western Copper & Gold (NYSE:WRN) Shares Up 7.8% – Time to Buy?

Western Copper & Gold Corp (NYSE:WRN) shares were up 7.8% during mid-day trading on Tuesday . The stock traded as high as $3.63 and last traded at $3.60. Approximately 1,155,449 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 1,569,090 shares. The stock had previously closed at $3.34.

Wall Street Analyst Weigh In

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

Western Copper & Gold Stock Up 10.8%

The company has a 50 day moving average price of $2.65 and a 200-day moving average price of $2.00. The company has a market cap of $747.61 million, a price-to-earnings ratio of -185.00 and a beta of 1.08.

Hedge Funds Weigh In On Western Copper & Gold

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of Western Copper & Gold by 98.0% during the first quarter. Goldman Sachs Group Inc. now owns 488,693 shares of the company’s stock valued at $555,000 after acquiring an additional 241,868 shares during the last quarter. Wealth Management Associates Inc. boosted its stake in Western Copper & Gold by 42.8% in the 2nd quarter. Wealth Management Associates Inc. now owns 63,400 shares of the company’s stock worth $79,000 after purchasing an additional 19,000 shares during the period. Prospera Financial Services Inc grew its stake in Western Copper & Gold by 213.1% during the second quarter. Prospera Financial Services Inc now owns 119,750 shares of the company’s stock valued at $150,000 after acquiring an additional 81,500 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Western Copper & Gold by 25.8% in the second quarter. SBI Securities Co. Ltd. now owns 93,757 shares of the company’s stock worth $117,000 after purchasing an additional 19,221 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in Western Copper & Gold in the 2nd quarter worth about $87,000. Institutional investors own 21.96% of the company’s stock.

Western Copper & Gold Company Profile

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.