PenderFund Capital Management Ltd. Makes New Investment in Western Copper and Gold Corporation $WRN

PenderFund Capital Management Ltd. purchased a new stake in Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 401,445 shares of the company’s stock, valued at approximately $900,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WRN. Dimensional Fund Advisors LP bought a new stake in shares of Western Copper and Gold during the 4th quarter worth $28,000. Deutsche Bank AG acquired a new stake in shares of Western Copper and Gold during the second quarter worth $27,000. Centiva Capital LP acquired a new stake in shares of Western Copper and Gold during the third quarter worth $31,000. International Assets Investment Management LLC lifted its holdings in shares of Western Copper and Gold by 45.6% during the fourth quarter. International Assets Investment Management LLC now owns 18,200 shares of the company’s stock valued at $49,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Western Copper and Gold in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 21.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WRN shares. HC Wainwright reissued a “buy” rating on shares of Western Copper and Gold in a research note on Tuesday, June 30th. UBS Group restated a “buy” rating and set a $5.25 price target on shares of Western Copper and Gold in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $5.50.

Western Copper and Gold Price Performance

NYSEAMERICAN:WRN opened at $2.59 on Friday. Western Copper and Gold Corporation has a fifty-two week low of $1.38 and a fifty-two week high of $4.26. The stock’s 50-day moving average is $2.27 and its two-hundred day moving average is $2.63. The stock has a market cap of $584.93 million, a PE ratio of -129.50 and a beta of 1.27.

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.