Western Copper and Gold (NYSEAMERICAN:WRN) Share Price Crosses Below 50 Day Moving Average - Should You Sell?

Key Points

• Western Copper and Gold shares fell below their 50-day moving average, trading as low as $2.12 before closing at $2.17, compared with the 50-day average of $2.36.
• Analysts remain bullish, with UBS Group and HC Wainwright maintaining Buy ratings and price targets of $5.25 and $5.75, respectively. The consensus rating is Buy, with an average target of $5.50.
• Institutional ownership stands at 21.96%, with several investors increasing or initiating positions during the second quarter. The company is developing the Casino copper-gold-molybdenum project in Yukon, Canada.

Western Copper and Gold Corporation (NYSEAMERICAN:WRN - Get Free Report) TSE: WRN passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.36 and traded as low as $2.12. Western Copper and Gold shares last traded at $2.17, with a volume of 1,097,716 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group restated a "buy" rating and set a $5.25 price objective on shares of Western Copper and Gold in a report on Wednesday, August 26th. HC Wainwright reissued a "buy" rating and issued a $5.75 target price on shares of Western Copper and Gold in a research report on Friday, September 4th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $5.50.

Western Copper and Gold Price Performance

The stock has a 50-day moving average price of $2.36 and a 200-day moving average price of $2.48. The company has a market capitalization of $491.03 million, a price-to-earnings ratio of -108.50 and a beta of 1.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in Western Copper and Gold by 41.7% in the 2nd quarter. Tidal Investments LLC now owns 8,466,144 shares of the company's stock valued at $18,964,000 after purchasing an additional 2,490,255 shares during the period. Engineers Gate Manager LP bought a new position in shares of Western Copper and Gold during the second quarter worth approximately $223,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Western Copper and Gold in the second quarter valued at approximately $900,000. Bank of America Corp DE bought a new position in Western Copper and Gold during the 2nd quarter worth $5,229,000. Finally, Cibc World Market Inc. acquired a new position in Western Copper and Gold in the 2nd quarter valued at $423,000. Institutional investors and hedge funds own 21.96% of the company's stock.

Western Copper and Gold Company Profile

Western Copper and Gold Corporation is a mineral exploration and development company focused on advancing the Casino Project in Yukon, Canada. The company's primary objective is to develop the project as a potential open-pit mining operation.

The Casino Project is a large copper-gold-molybdenum deposit that also contains silver. Western Copper and Gold is responsible for exploration, engineering, environmental assessment, permitting and other development activities related to the project.

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