Short Interest in Western Copper and Gold Corporation (NYSEAMERICAN:WRN) Increases By 47.6%

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 2,174,777 shares, a growth of 47.6% from the March 15th total of 1,472,975 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,651,738 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of Western Copper and Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Western Copper and Gold by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 4,860,000 shares of the company’s stock worth $12,995,000 after purchasing an additional 280,000 shares during the period. Tidal Investments LLC increased its position in shares of Western Copper and Gold by 33.0% during the third quarter. Tidal Investments LLC now owns 3,358,509 shares of the company’s stock worth $6,616,000 after acquiring an additional 833,348 shares during the period. Euro Pacific Asset Management LLC increased its position in shares of Western Copper and Gold by 164.6% during the fourth quarter. Euro Pacific Asset Management LLC now owns 1,035,506 shares of the company’s stock worth $2,763,000 after acquiring an additional 644,198 shares during the period. Bank of America Corp DE increased its position in shares of Western Copper and Gold by 696.3% during the third quarter. Bank of America Corp DE now owns 989,615 shares of the company’s stock worth $1,950,000 after acquiring an additional 865,339 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Western Copper and Gold by 110.8% during the third quarter. Mackenzie Financial Corp now owns 970,084 shares of the company’s stock worth $1,923,000 after acquiring an additional 510,000 shares during the period. 21.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $5.75 price objective on shares of Western Copper and Gold in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average price target of $5.75.

Western Copper and Gold Stock Down 5.1%

Western Copper and Gold stock traded down $0.15 during midday trading on Wednesday, reaching $2.80. The stock had a trading volume of 1,943,139 shares, compared to its average volume of 1,852,083. Western Copper and Gold has a 52-week low of $1.02 and a 52-week high of $4.26. The firm has a market cap of $631.74 million, a price-to-earnings ratio of -93.33 and a beta of 1.21. The company has a fifty day moving average of $2.88 and a 200 day moving average of $2.70.

About Western Copper and Gold

Western Copper and Gold Corporation is a Canada-based mineral exploration and development company focused on advancing one of the world’s largest undeveloped copper-gold deposits. Listed on the NYSE American under the symbol WRN, the company’s primary asset is the Casino Project, located in the Yukon Territory of northern Canada. Western Copper and Gold’s activities are centered on resource definition, engineering studies, environmental assessment and community engagement to prepare the deposit for eventual production.

The Casino Project comprises multiple porphyry-style mineralized zones containing copper, gold, molybdenum and silver.