Western Copper and Gold (NYSEAMERICAN:WRN) Shares Cross Above Fifty Day Moving Average - Should You Sell?

Key Points

• Western Copper and Gold shares rose above their 50-day moving average, reaching $2.45 before last trading at $2.42 on volume of 1.07 million shares. The 50-day average is $2.33, while the 200-day average is $2.54.
• Analysts remain bullish, with HC Wainwright and UBS Group reiterating “Buy” ratings and setting price targets of $5.75 and $5.25, respectively. The stock has an average rating of “Buy” and a consensus target of $5.50.
• Institutional ownership stands at 21.96%, with several firms increasing positions, including Tidal Investments, Arrowstreet Capital and Euro Pacific Asset Management. Western Copper and Gold is focused on developing the Casino polymetallic project in Yukon, Canada.

Western Copper and Gold Corporation (NYSEAMERICAN:WRN - Get Free Report) TSE: WRN's stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.33 and traded as high as $2.45. Western Copper and Gold shares last traded at $2.42, with a volume of 1,074,750 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on WRN. HC Wainwright reissued a "buy" rating and set a $5.75 target price on shares of Western Copper and Gold in a research note on Friday, September 4th. UBS Group restated a "buy" rating and issued a $5.25 price target on shares of Western Copper and Gold in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $5.50.

Western Copper and Gold Stock Performance

The firm has a 50 day simple moving average of $2.33 and a two-hundred day simple moving average of $2.54. The stock has a market cap of $546.53 million, a P/E ratio of -121.00 and a beta of 1.32.

Institutional Trading of Western Copper and Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in Western Copper and Gold by 41.7% during 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 in the last quarter. Bank of America Corp DE acquired a new position in shares of Western Copper and Gold during the 2nd quarter valued at $5,229,000. Arrowstreet Capital Limited Partnership raised 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 buying an additional 1,548,938 shares in the last quarter. Euro Pacific Asset Management LLC raised its stake 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 buying an additional 1,386,111 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Western Copper and Gold in the 1st quarter worth $2,249,000. 21.96% of the stock is currently owned by institutional investors.

Western Copper and Gold Company Profile

Western Copper and Gold Corporation is a Canadian mineral exploration and development company focused on advancing the Casino project in Yukon, Canada. The company is not a diversified mining producer; its primary business is the exploration, evaluation and potential development of mineral resources.

The Casino project is a large polymetallic porphyry deposit containing copper, gold, molybdenum and silver. Western Copper and Gold's activities include geological studies, engineering and permitting work intended to assess and advance the project toward future mine development.

The company's operations are concentrated in Yukon, where the Casino property is located in the traditional territory of the Tr'ondëk Hwëch'in and Selkirk First Nations.

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