Bank of America Corp DE Buys 490,061 Shares of Western Copper and Gold Corporation $WRN

Key Points

• Bank of America increased its Western Copper and Gold stake by 29.7% in the first quarter, buying 490,061 shares to own 2.14 million shares, or 0.95% of the company.
• Other institutional investors also added positions, including Arrowstreet Capital, which boosted its stake by 1,464%, while institutional investors collectively owned 21.96% of WRN.
• Western Copper and Gold shares opened at $2.59, compared with analyst consensus targeting $5.50; UBS and HC Wainwright both maintained Buy ratings.

Bank of America Corp DE raised its stake in Western Copper and Gold Corporation (NYSEAMERICAN:WRN - Free Report) TSE: WRN by 29.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,142,600 shares of the company's stock after purchasing an additional 490,061 shares during the quarter. Bank of America Corp DE owned 0.95% of Western Copper and Gold worth $5,421,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in Western Copper and Gold in the 1st quarter valued at $809,000. Gamco Investors INC. ET AL boosted its holdings in 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 worth $1,353,000 after acquiring an additional 6,600 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Western Copper and Gold by 1,464.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,654,741 shares of the company's stock worth $4,197,000 after acquiring an additional 1,548,938 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Western Copper and Gold in the first quarter valued at about $2,249,000. Finally, Euro Pacific Asset Management LLC raised its holdings in shares of Western Copper and Gold by 133.9% in the first quarter. Euro Pacific Asset Management LLC now owns 2,421,617 shares of the company's stock valued at $5,999,000 after purchasing an additional 1,386,111 shares during the last quarter. Institutional investors own 21.96% of the company's stock.

Western Copper and Gold Price Performance

Shares of Western Copper and Gold stock opened at $2.59 on Friday. The firm has a market cap of $584.93 million, a PE ratio of -129.50 and a beta of 1.27. Western Copper and Gold Corporation has a 1 year low of $1.38 and a 1 year high of $4.26. The stock has a fifty day moving average price of $2.27 and a 200-day moving average price of $2.63.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group reissued a "buy" rating and set a $5.25 price target on shares of Western Copper and Gold in a research report on Wednesday. HC Wainwright reiterated a "buy" rating on shares of Western Copper and Gold in a research note on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $5.50.

Western Copper and Gold Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source