Western Copper and Gold (NYSEAMERICAN:WRN) Trading Down 6.8% – Here’s Why

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN)’s share price fell 6.8% on Tuesday . The company traded as low as $2.54 and last traded at $2.5350. 580,608 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,055,781 shares. The stock had previously closed at $2.72.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.75 target price on shares of Western Copper and Gold in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $5.75.

Western Copper and Gold Stock Down 6.4%

The firm has a market cap of $574.20 million, a P/E ratio of -84.50 and a beta of 1.21. The firm has a fifty day moving average of $3.00 and a 200-day moving average of $2.66.

Institutional Trading of Western Copper and Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Management Associates Inc. raised its position in Western Copper and Gold by 7.1% during the third quarter. Wealth Management Associates Inc. now owns 67,900 shares of the company’s stock worth $134,000 after acquiring an additional 4,500 shares in the last quarter. International Assets Investment Management LLC raised its position in Western Copper and Gold by 45.6% during the fourth quarter. International Assets Investment Management LLC now owns 18,200 shares of the company’s stock worth $49,000 after acquiring an additional 5,700 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in Western Copper and Gold by 22.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 36,140 shares of the company’s stock worth $96,000 after acquiring an additional 6,665 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Western Copper and Gold by 2.4% during the third quarter. Gamco Investors INC. ET AL now owns 433,200 shares of the company’s stock worth $853,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in Western Copper and Gold by 23.1% during the second quarter. Raymond James Financial Inc. now owns 53,253 shares of the company’s stock worth $67,000 after acquiring an additional 10,000 shares in the last quarter. 21.96% of the stock is owned by institutional investors.

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.