Western Copper and Gold (NYSEAMERICAN:WRN) Stock Crosses Below 200-Day Moving Average – Here’s Why

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.80 and traded as low as $2.74. Western Copper and Gold shares last traded at $2.80, with a volume of 6,668,920 shares trading hands.

Wall Street Analyst Weigh In

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

Western Copper and Gold Stock Down 5.7%

The company has a 50-day moving average of $2.75 and a 200 day moving average of $2.80. The firm has a market capitalization of $631.76 million, a PE ratio of -280.00 and a beta of 1.16.

Hedge Funds Weigh In On Western Copper and Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Western Copper and Gold in the 3rd quarter worth about $25,000. Dimensional Fund Advisors LP purchased a new position in shares of Western Copper and Gold in the 4th quarter worth about $28,000. Jones Financial Companies Lllp purchased a new position in shares of Western Copper and Gold in the 3rd quarter worth about $30,000. Centiva Capital LP bought a new stake in shares of Western Copper and Gold in the 3rd quarter valued at about $31,000. Finally, Jane Street Group LLC bought a new stake in shares of Western Copper and Gold in the 2nd quarter valued at about $45,000. 21.96% of the stock is currently owned by hedge funds and other institutional investors.

Western Copper and Gold Company Profile

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.