Western Copper and Gold Corporation (NYSEAMERICAN:WRN) Short Interest Down 16.8% in April

Key Points

• Short interest fell 16.8%: Short interest declined to 1,810,149 shares as of April 15 (from 2,174,777 on March 31), equal to 0.8% of shares and a short-interest ratio of 0.8 days.
• Analyst sentiment bullish: MarketBeat shows a consensus rating of "Strong Buy" with an average target price of $5.75, and HC Wainwright reiterated a Buy with a $5.75 objective.
• Institutional involvement is modest but growing: several funds (including Jane Street and Dimensional) established small new positions recently, and institutions/hedge funds now own about 21.96% of the stock.

Western Copper and Gold Corporation (NYSEAMERICAN:WRN - Get Free Report) TSE: WRN was the target of a large decrease in short interest in April. As of April 15th, there was short interest totaling 1,810,149 shares, a decrease of 16.8% from the March 31st total of 2,174,777 shares. Based on an average daily volume of 2,134,001 shares, the short-interest ratio is presently 0.8 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WRN. International Assets Investment Management LLC bought a new stake in Western Copper and Gold in the third quarter worth approximately $25,000. Dimensional Fund Advisors LP bought a new position in shares of Western Copper and Gold during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Western Copper and Gold during the 3rd quarter worth approximately $30,000. Centiva Capital LP bought a new stake in shares of Western Copper and Gold in the 3rd quarter valued at $31,000. Finally, Jane Street Group LLC acquired a new position in shares of Western Copper and Gold during the 2nd quarter valued at $45,000. 21.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and issued a $5.75 price objective on shares of Western Copper and Gold in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average target price of $5.75.

Western Copper and Gold Price Performance

Western Copper and Gold stock opened at $2.75 on Thursday. The firm has a market cap of $620.71 million, a P/E ratio of -92.33 and a beta of 1.21. Western Copper and Gold has a one year low of $1.02 and a one year high of $4.26. The stock's 50 day moving average is $2.81 and its 200 day moving average is $2.75.

Western Copper and Gold Company Profile

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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