Western Copper and Gold (TSE:WRN) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Western Copper and Gold's stock (TSE:WRN) has surpassed its 200-day moving average of C$1.71, trading at a recent high of C$2.48.
• Analysts have provided a bullish outlook, with a consensus price target of C$4.00 and several firms rating the stock as "Strong Buy."
• The company is developing its Casino project, which is expected to position it as a leading copper-gold mine in Canada.

Western Copper and Gold Co. (TSE:WRN - Get Free Report) NYSE: WRN passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$1.71 and traded as high as C$2.48. Western Copper and Gold shares last traded at C$2.43, with a volume of 269,686 shares.

Analysts Set New Price Targets

WRN has been the topic of several analyst reports. Stifel Nicolaus set a C$5.50 target price on shares of Western Copper and Gold and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Stifel Canada upgraded shares of Western Copper and Gold to a "strong-buy" rating in a report on Tuesday, June 10th. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$4.00.

Western Copper and Gold Stock Performance

The business's fifty day moving average price is C$1.91 and its 200-day moving average price is C$1.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.52 and a current ratio of 25.74. The stock has a market cap of C$540.42 million, a PE ratio of -134.00 and a beta of 0.83.

Insider Buying and Selling

In other Western Copper and Gold news, Senior Officer Elena Spivak sold 33,334 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of C$1.66, for a total transaction of C$55,334.44. Insiders own 16.29% of the company's stock.

About Western Copper and Gold

Western Copper & Gold Corp is a Canada-based exploration-stage company. It is engaged in the acquisition, exploration, and future development of resource properties. The company is developing the Casino project into Canada's premier copper-gold mine. It holds significant gold, copper reserves in its Casino project located in the Yukon, Canada.