Western Copper and Gold (NYSEAMERICAN:WRN) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.33 and traded as high as $2.45. Western Copper and Gold shares last traded at $2.42, with a volume of 1,074,750 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on WRN. HC Wainwright restated a “buy” rating and issued a $5.75 price target on shares of Western Copper and Gold in a research report on Friday, September 4th. UBS Group reissued a “buy” rating and issued a $5.25 target price on shares of Western Copper and Gold in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Western Copper and Gold has an average rating of “Buy” and an average target price of $5.50.

Western Copper and Gold Stock Up 0.4%

The stock has a fifty day moving average of $2.33 and a two-hundred day moving average of $2.54. The stock has a market cap of $546.53 million, a price-to-earnings ratio of -121.00 and a beta of 1.32.

Hedge Funds Weigh In On Western Copper and Gold

Large investors have recently made changes to their positions in the stock. Deutsche Bank AG acquired a new stake in shares of Western Copper and Gold in the second quarter valued at about $27,000. International Assets Investment Management LLC increased its holdings in Western Copper and Gold by 191.2% in the first quarter. International Assets Investment Management LLC now owns 53,000 shares of the company’s stock valued at $139,000 after buying an additional 34,800 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Western Copper and Gold during the 2nd quarter valued at approximately $173,000. Engineers Gate Manager LP acquired a new stake in shares of Western Copper and Gold during the 2nd quarter valued at approximately $223,000. Finally, Advisory Alpha LLC boosted its stake in shares of Western Copper and Gold by 255.1% during the 4th quarter. Advisory Alpha LLC now owns 163,326 shares of the company’s stock worth $436,000 after acquiring an additional 117,335 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 Canadian mineral exploration and development company focused on advancing the Casino project in Yukon, Canada. The company is not a diversified mining producer; its primary business is the exploration, evaluation and potential development of mineral resources.

The Casino project is a large polymetallic porphyry deposit containing copper, gold, molybdenum and silver. Western Copper and Gold’s activities include geological studies, engineering and permitting work intended to assess and advance the project toward future mine development.

The company’s operations are concentrated in Yukon, where the Casino property is located in the traditional territory of the Tr’ondëk Hwëch’in and Selkirk First Nations.