Walleye Capital LLC Purchases New Shares in Western Copper and Gold Corporation $WRN

Key Points

• Walleye Capital LLC opened a new position in Western Copper and Gold during the first quarter, buying 888,943 shares worth about $2.25 million. The stake represented about 0.39% of the company.
• Other institutional investors also increased or initiated positions, and 21.96% of the stock is now held by institutions. Notable buyers included Euro Pacific Asset Management and Quadrature Capital.
• Western Copper and Gold shares recently traded at $2.15, below both the 50-day and 200-day moving averages. Despite the weak price action, HC Wainwright reiterated a buy rating, with a consensus price target of $5.75.

Walleye Capital LLC acquired a new stake in shares of Western Copper and Gold Corporation (NYSEAMERICAN:WRN - Free Report) TSE: WRN during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 888,943 shares of the company's stock, valued at approximately $2,249,000. Walleye Capital LLC owned 0.39% of Western Copper and Gold at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Euro Pacific Asset Management LLC lifted its position in shares of Western Copper and Gold by 133.9% in the 1st quarter. Euro Pacific Asset Management LLC now owns 2,421,617 shares of the company's stock worth $5,999,000 after purchasing an additional 1,386,111 shares during the period. International Assets Investment Management LLC increased its position in shares of Western Copper and Gold by 191.2% during the first quarter. International Assets Investment Management LLC now owns 53,000 shares of the company's stock valued at $139,000 after buying an additional 34,800 shares during the period. Virtu Financial LLC purchased a new position in shares of Western Copper and Gold during the fourth quarter valued at about $112,000. XTX Topco Ltd purchased a new position in shares of Western Copper and Gold during the fourth quarter valued at about $179,000. Finally, Quadrature Capital Ltd raised its stake in Western Copper and Gold by 172.2% in the fourth quarter. Quadrature Capital Ltd now owns 518,789 shares of the company's stock worth $1,388,000 after buying an additional 328,189 shares in the last quarter. 21.96% of the stock is currently owned by institutional investors.

Western Copper and Gold Price Performance

NYSEAMERICAN:WRN opened at $2.15 on Friday. The firm's 50-day moving average price is $2.44 and its 200-day moving average price is $2.82. The company has a market capitalization of $485.56 million, a PE ratio of -215.00 and a beta of 1.26. Western Copper and Gold Corporation has a 1-year low of $1.18 and a 1-year high of $4.26.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a "buy" rating on shares of Western Copper and Gold in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $5.75.

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.

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