Western Copper and Gold (NYSEAMERICAN:WRN) Shares Break Below 50-Day Moving Average – Should You Sell?

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $2.35 and traded as low as $1.77. Western Copper and Gold shares last traded at $1.81, with a volume of 2,097,300 shares changing hands.

Wall Street Analyst Weigh In

WRN has been the topic of several research reports. UBS Group reissued a “buy” rating and issued a $5.25 price target on shares of Western Copper and Gold in a research note on Wednesday, August 26th. HC Wainwright reaffirmed a “buy” rating and set a $5.75 price objective on shares of Western Copper and Gold in a research note on Friday, September 4th. Two analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $5.50.

Western Copper and Gold Stock Performance

The firm has a market capitalization of $411.83 million, a price-to-earnings ratio of -91.00 and a beta of 1.31. The business has a 50 day simple moving average of $2.34 and a 200-day simple moving average of $2.46.

Institutional Trading of Western Copper and Gold

Several hedge funds have recently made changes to their positions in WRN. Gamco Investors INC. ET AL raised its position in shares of Western Copper and Gold by 1.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 534,800 shares of the company’s stock valued at $1,353,000 after buying an additional 6,600 shares during the period. Deutsche Bank AG purchased a new position in Western Copper and Gold in the second quarter worth approximately $27,000. International Assets Investment Management LLC grew its position 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 worth $139,000 after acquiring an additional 34,800 shares during the period. BlackRock Inc. purchased a new position in Western Copper and Gold in the second quarter worth approximately $173,000. Finally, Global Strategic Management Inc. increased its stake in Western Copper and Gold by 19.4% during the third quarter. Global Strategic Management Inc. now owns 524,500 shares of the company’s stock worth $1,161,000 after acquiring an additional 85,300 shares during 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 mineral exploration and development company focused on advancing the Casino Project in Yukon, Canada. The company’s primary objective is to develop the project as a potential open-pit mining operation.

The Casino Project is a large copper-gold-molybdenum deposit that also contains silver. Western Copper and Gold is responsible for exploration, engineering, environmental assessment, permitting and other development activities related to the project.