Western Copper and Gold Corporation (NYSEAMERICAN:WRN) Sees Large Decline in Short Interest

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) was the target of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,373,122 shares, a decrease of 35.0% from the February 12th total of 2,111,956 shares. Based on an average daily trading volume, of 2,368,044 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.6% of the company’s stock are short sold. Approximately 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 2,368,044 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On Western Copper and Gold

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in Western Copper and Gold by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 4,860,000 shares of the company’s stock worth $12,995,000 after buying an additional 280,000 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Western Copper and 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. Euro Pacific Asset Management LLC grew its position in shares of Western Copper and Gold by 164.6% during the 4th quarter. Euro Pacific Asset Management LLC now owns 1,035,506 shares of the company’s stock valued at $2,763,000 after acquiring an additional 644,198 shares during the period. Bank of America Corp DE increased its stake in shares of Western Copper and Gold by 696.3% in the 3rd 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 in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Western Copper and Gold by 110.8% in 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. 21.96% of the stock is owned by hedge funds and other institutional investors.

Western Copper and Gold Trading Down 6.1%

Shares of WRN traded down $0.18 during trading hours on Friday, hitting $2.77. The company had a trading volume of 1,578,056 shares, compared to its average volume of 1,969,063. The company’s fifty day moving average price is $3.29 and its two-hundred day moving average price is $2.54. Western Copper and Gold has a one year low of $0.90 and a one year high of $4.26. The company has a market capitalization of $623.75 million, a PE ratio of -277.00 and a beta of 1.02.

About Western Copper and Gold

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.