Western Copper and Gold (NYSEAMERICAN:WRN) Stock Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Western Copper and Gold shares rose 2.7%, trading as high as $2.63 and closing at $2.62, above the 50-day moving average of $2.27. The stock’s 200-day moving average is $2.64.
• HC Wainwright reiterated a “Buy” rating, while the stock has an average analyst rating of Buy and an average price target of $5.75.
• Institutional ownership stands at 21.96%, with several investors increasing or initiating positions, including Euro Pacific Asset Management and Arrowstreet Capital.

Western Copper and Gold Corporation (NYSEAMERICAN:WRN - Get Free Report) TSE: WRN's share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.27 and traded as high as $2.63. Western Copper and Gold shares last traded at $2.62, with a volume of 622,365 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating on shares of Western Copper and Gold in a research report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $5.75.

Western Copper and Gold Stock Up 2.7%

The company's fifty day moving average is $2.27 and its two-hundred day moving average is $2.64. The firm has a market capitalization of $591.70 million, a price-to-earnings ratio of -131.00 and a beta of 1.27.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in Western Copper and Gold during the first quarter worth about $2,249,000. Euro Pacific Asset Management LLC boosted its stake in Western Copper and Gold by 133.9% during the 1st quarter. Euro Pacific Asset Management LLC now owns 2,421,617 shares of the company's stock worth $5,999,000 after acquiring an additional 1,386,111 shares during the last quarter. Auxano Advisors LLC bought a new position in Western Copper and Gold during the 2nd quarter worth approximately $1,111,000. 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 valued at $4,197,000 after purchasing an additional 1,548,938 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Western Copper and Gold during the first quarter valued at approximately $809,000. Institutional investors and hedge funds own 21.96% of the company's stock.

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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