Western Copper and Gold (NYSEAMERICAN:WRN) Downgraded to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Western Copper and Gold (NYSEAMERICAN:WRN) (TSE:WRN) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Western Copper Corporation is an exploration and development company focused in the exploration and production of gold, copper and molybdenum. Its reserves are located in Copper Project (Hushamu) in British Columbia and the Redstone property in the Northwest Territories. Western Copper Corporation is headquartered in Vancouver, Canada. “

Separately, HC Wainwright boosted their target price on shares of Western Copper and Gold from $3.75 to $4.00 and gave the stock a buy rating in a research report on Thursday, August 19th.

Shares of WRN stock opened at $1.72 on Tuesday. The company has a market cap of $258.99 million, a price-to-earnings ratio of -86.00 and a beta of 2.49. Western Copper and Gold has a 12-month low of $0.95 and a 12-month high of $2.83.

Western Copper and Gold (NYSEAMERICAN:WRN) (TSE:WRN) last announced its quarterly earnings data on Friday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter. Sell-side analysts anticipate that Western Copper and Gold will post -0.02 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in Western Copper and Gold by 16.1% during the 2nd quarter. FMR LLC now owns 8,260,800 shares of the company’s stock valued at $16,394,000 after purchasing an additional 1,146,200 shares in the last quarter. Russell Investments Group Ltd. grew its position in Western Copper and Gold by 497.8% during the first quarter. Russell Investments Group Ltd. now owns 814,591 shares of the company’s stock valued at $1,016,000 after buying an additional 678,315 shares during the period. Renaissance Technologies LLC grew its position in Western Copper and Gold by 19.5% during the first quarter. Renaissance Technologies LLC now owns 647,100 shares of the company’s stock valued at $815,000 after buying an additional 105,600 shares during the period. Banque Cantonale Vaudoise bought a new stake in Western Copper and Gold during the first quarter valued at approximately $165,000. Finally, Synergy Financial Management LLC lifted its holdings in Western Copper and Gold by 93.3% during the second quarter. Synergy Financial Management LLC now owns 90,927 shares of the company’s stock valued at $181,000 after purchasing an additional 43,895 shares in the last quarter. 11.29% of the stock is owned by institutional investors.

Western Copper and Gold Company Profile

Western Copper & Gold Corp. operates as an exploration stage company. It focuses on the development of Casino Project. The company was founded on March 17, 2006 and is headquartered in Vancouver, Canada.

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