Western Copper & Gold (NYSE:WRN) Sees Large Volume Increase – Here’s What Happened

Shares of Western Copper & Gold Corp (NYSE:WRN) saw an uptick in trading volume on Monday . 494,410 shares were traded during mid-day trading, a decline of 17% from the previous session’s volume of 595,275 shares.The stock last traded at $2.73 and had previously closed at $2.99.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price target on Western Copper & Gold from $4.00 to $4.25 and gave the company a “buy” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $4.25.

Western Copper & Gold Trading Down 8.0%

The firm has a 50-day moving average of $2.33 and a two-hundred day moving average of $1.80. The firm has a market cap of $555.65 million, a price-to-earnings ratio of -137.50 and a beta of 1.06.

Institutional Investors Weigh In On Western Copper & Gold

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC increased its position in Western Copper & Gold by 33.0% during the third quarter. Tidal Investments LLC now owns 3,358,509 shares of the company’s stock worth $6,616,000 after acquiring an additional 833,348 shares during the period. Bank of America Corp DE grew its position in Western Copper & Gold by 696.3% in the 3rd quarter. Bank of America Corp DE now owns 989,615 shares of the company’s stock worth $1,950,000 after purchasing an additional 865,339 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Western Copper & Gold by 110.8% during the 3rd quarter. Mackenzie Financial Corp now owns 970,084 shares of the company’s stock worth $1,923,000 after purchasing an additional 510,000 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Western Copper & Gold by 98.0% during the first quarter. Goldman Sachs Group Inc. now owns 488,693 shares of the company’s stock valued at $555,000 after buying an additional 241,868 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Western Copper & Gold by 2.4% in the third quarter. Gamco Investors INC. ET AL now owns 433,200 shares of the company’s stock valued at $853,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 21.96% of the company’s stock.

Western Copper & Gold Company Profile

Western Copper & Gold Corporation is a Canadian-based mineral exploration and development company focused on advancing large-scale copper and gold projects. Headquartered in Vancouver, British Columbia, the company is publicly traded on the New York Stock Exchange American under the ticker WRN and on the Toronto Stock Exchange under WRN. Its principal asset is the 100%-owned Casino Project, located in Canada’s Yukon Territory, which is recognized as one of the largest undeveloped copper-gold porphyry deposits in North America.

The company’s core activities encompass geological exploration, drilling, metallurgical testing and comprehensive feasibility studies.