Western Copper and Gold (NYSEAMERICAN:WRN) Stock Price Down 6.5% – What’s Next?

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) fell 6.5% during trading on Thursday . The company traded as low as $2.35 and last traded at $2.3650. 2,113,628 shares were traded during trading, an increase of 2% from the average daily volume of 2,076,861 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.75 target price on shares of Western Copper and Gold in a report on Wednesday, March 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $5.75.

Western Copper and Gold Stock Down 6.5%

The business’s 50-day simple moving average is $2.77 and its two-hundred day simple moving average is $2.90. The firm has a market cap of $533.92 million, a price-to-earnings ratio of -236.50 and a beta of 1.19.

Hedge Funds Weigh In On Western Copper and Gold

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new position in Western Copper and Gold in the 4th quarter worth about $28,000. Jones Financial Companies Lllp acquired a new stake in Western Copper and Gold in the third quarter valued at approximately $30,000. Centiva Capital LP acquired a new stake in Western Copper and Gold in the third quarter valued at approximately $31,000. Jane Street Group LLC purchased a new stake in shares of Western Copper and Gold in the second quarter valued at approximately $45,000. Finally, International Assets Investment Management LLC increased its position in shares of Western Copper and Gold by 45.6% in the fourth quarter. International Assets Investment Management LLC now owns 18,200 shares of the company’s stock valued at $49,000 after buying an additional 5,700 shares in the last quarter. Hedge funds and other institutional investors own 21.96% of the company’s stock.

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.