Western Copper & Gold (NYSE:WRN) Stock Price Up 8.7% – What’s Next?

Western Copper & Gold Corp (NYSE:WRN)’s stock price rose 8.7% on Monday . The company traded as high as $3.51 and last traded at $3.50. Approximately 944,085 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,400,464 shares. The stock had previously closed at $3.22.

Analysts Set New Price Targets

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

Western Copper & Gold Trading Up 5.3%

The firm has a market cap of $684.97 million, a PE ratio of -169.50 and a beta of 1.08. The stock’s 50 day moving average price is $2.49 and its 200 day moving average price is $1.91.

Institutional Investors Weigh In On Western Copper & Gold

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in Western Copper & Gold by 33.0% during the 3rd 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 in the last quarter. Bank of America Corp DE raised its stake in shares of Western Copper & Gold by 696.3% during the third quarter. Bank of America Corp DE now owns 989,615 shares of the company’s stock valued at $1,950,000 after purchasing an additional 865,339 shares during the period. Mackenzie Financial Corp lifted its position in shares of Western Copper & Gold by 110.8% during the third 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Western Copper & Gold by 98.0% in the first quarter. Goldman Sachs Group Inc. now owns 488,693 shares of the company’s stock valued at $555,000 after purchasing an additional 241,868 shares during the period. Finally, Gamco Investors INC. ET AL boosted 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 purchasing an additional 10,000 shares during the period. 21.96% of the stock is currently owned by hedge funds and other institutional investors.

About Western Copper & Gold

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.