Tidal Investments LLC Purchases 2,490,255 Shares of Western Copper and Gold Corporation $WRN

Key Points

• Tidal Investments increased its Western Copper and Gold stake by 41.7% in the second quarter, purchasing 2.49 million additional shares and bringing its holdings to 8.47 million shares, or about 3.75% of WRN.
• Other institutional investors also expanded their positions, and hedge funds and institutions now own approximately 21.96% of the company.
• Analysts maintain a positive outlook, with UBS and HC Wainwright issuing Buy ratings and price targets of $5.25 and $5.75; the consensus target is $5.50 versus WRN’s recent price of $2.39.

Tidal Investments LLC lifted its position in Western Copper and Gold Corporation (NYSEAMERICAN:WRN - Free Report) TSE: WRN by 41.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,466,144 shares of the company's stock after buying an additional 2,490,255 shares during the period. Tidal Investments LLC owned about 3.75% of Western Copper and Gold worth $18,964,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WRN. Bank of America Corp DE bought a new position in Western Copper and Gold during the 2nd quarter worth about $5,229,000. Arrowstreet Capital Limited Partnership grew its holdings in Western Copper and Gold by 1,464.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,654,741 shares of the company's stock worth $4,197,000 after purchasing an additional 1,548,938 shares during the period. Euro Pacific Asset Management LLC increased 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. Auxano Advisors LLC bought a new position in shares of Western Copper and Gold during the fourth quarter worth approximately $2,456,000. Finally, Walleye Capital LLC bought a new position in Western Copper and Gold during the first quarter worth about $2,249,000. Institutional investors and hedge funds own 21.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on WRN shares. UBS Group reissued a "buy" rating and issued a $5.25 target price on shares of Western Copper and Gold in a report on Wednesday, August 26th. HC Wainwright reiterated a "buy" rating and issued a $5.75 price target on shares of Western Copper and Gold in a research note on Friday, September 4th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Western Copper and Gold has a consensus rating of "Buy" and an average target price of $5.50.

Western Copper and Gold Price Performance

Western Copper and Gold stock opened at $2.39 on Friday. The business has a 50 day moving average of $2.32 and a 200-day moving average of $2.58. The company has a market capitalization of $539.76 million, a P/E ratio of -119.50 and a beta of 1.32. Western Copper and Gold Corporation has a 1 year low of $1.53 and a 1 year high of $4.26.

Western Copper and Gold Company 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.

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