Western Copper & Gold Corp $WRN Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has significantly increased its stake in Western Copper & Gold Corp by 98% in the first quarter, now holding 488,693 shares worth $555,000.
• Equities analysts have set a favorable outlook for Western Copper & Gold, with Stifel Canada rating it as a "strong-buy" and an average price target of $4.00.
• The company's stock is currently trading at $1.85, with a market capitalization of $373.06 million and showing a 12-month price range between $0.90 and $1.97.

Goldman Sachs Group Inc. increased its position in Western Copper & Gold Corp (NYSE:WRN - Free Report) by 98.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 488,693 shares of the company's stock after purchasing an additional 241,868 shares during the period. Goldman Sachs Group Inc. owned 0.24% of Western Copper & Gold worth $555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sweeney & Michel LLC acquired a new stake in Western Copper & Gold during the first quarter valued at approximately $87,000. SBI Securities Co. Ltd. increased its holdings in shares of Western Copper & Gold by 255.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 74,536 shares of the company's stock valued at $85,000 after acquiring an additional 53,570 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Western Copper & Gold by 42.3% in the 1st quarter. Russell Investments Group Ltd. now owns 859,785 shares of the company's stock valued at $980,000 after acquiring an additional 255,642 shares during the last quarter. 21.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on WRN shares. Stifel Canada raised shares of Western Copper & Gold to a "strong-buy" rating in a report on Tuesday, June 10th. HC Wainwright set a $4.00 price target on shares of Western Copper & Gold and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $4.00.

Western Copper & Gold Price Performance

NYSE:WRN opened at $1.85 on Friday. The firm has a market capitalization of $373.06 million, a P/E ratio of -92.50 and a beta of 1.07. The business has a 50 day simple moving average of $1.43 and a 200 day simple moving average of $1.26. Western Copper & Gold Corp has a 12-month low of $0.90 and a 12-month high of $1.97.

Western Copper & Gold Profile

Western Copper & Gold Corp. operates as an exploration stage company, which engages in the acquisition, exploration, and future development of mineral resource properties. It currently focuses on the development of the Casino Project. The company was founded on March 17, 2006 and is headquartered in Vancouver, Canada.

Want to see what other hedge funds are holding WRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Copper & Gold Corp (NYSE:WRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.