Western Copper and Gold (NYSEAMERICAN:WRN) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.71 and traded as low as $2.10. Western Copper and Gold shares last traded at $2.17, with a volume of 4,129,762 shares.

Wall Street Analyst Weigh In

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

Western Copper and Gold Stock Performance

The firm has a market capitalization of $496.67 million, a price-to-earnings ratio of -220.00 and a beta of 1.19. The stock’s fifty day moving average is $2.70 and its two-hundred day moving average is $2.89.

Institutional Investors Weigh In On Western Copper and Gold

Hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Western Copper and Gold by 1,464.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,654,741 shares of the company’s stock valued at $4,197,000 after purchasing an additional 1,548,938 shares in the last quarter. Euro Pacific Asset Management LLC grew its position in shares of Western Copper and Gold by 133.9% during the first quarter. Euro Pacific Asset Management LLC now owns 2,421,617 shares of the company’s stock worth $5,999,000 after buying an additional 1,386,111 shares in the last quarter. Auxano Advisors LLC bought a new stake in shares of Western Copper and Gold in the fourth quarter worth $2,456,000. Walleye Capital LLC acquired a new stake in Western Copper and Gold in the first quarter valued at $2,249,000. Finally, Bank of America Corp DE boosted its stake in Western Copper and Gold by 696.3% during the 3rd quarter. Bank of America Corp DE now owns 989,615 shares of the company’s stock valued at $1,950,000 after acquiring an additional 865,339 shares during the last quarter. Institutional investors and hedge funds 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.