Western Copper and Gold (WRN) Projected to Post Quarterly Earnings on Thursday

Key Points

• Western Copper and Gold is projected to report quarterly results after the market close on Thursday, May 7, with analysts forecasting an EPS loss of ($0.01).
• Shares opened at $2.61 and were trading down about 4.7%, valuing the company at roughly $588.9 million, while the street consensus is a Strong Buy with an average price target of $5.75.
• Institutional activity has picked up—Millennium Management and Quadrature Capital each increased stakes by ~171–172%—and institutions now own about 21.96% of the stock.

Western Copper and Gold (NYSEAMERICAN:WRN - Get Free Report) TSE: WRN is projected to post its results after the market closes on Thursday, May 7th. Analysts expect Western Copper and Gold to post earnings of ($0.01) per share for the quarter.

Western Copper and Gold Trading Down 4.7%

NYSEAMERICAN:WRN opened at $2.61 on Thursday. The firm has a market cap of $588.89 million, a price-to-earnings ratio of -87.00 and a beta of 1.21. The company's 50-day moving average is $2.81 and its two-hundred day moving average is $2.75. Western Copper and Gold has a 12-month low of $1.02 and a 12-month high of $4.26.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its stake in shares of Western Copper and Gold by 171.3% during the 4th quarter. Millennium Management LLC now owns 686,447 shares of the company's stock valued at $1,834,000 after acquiring an additional 433,420 shares during the last quarter. Quadrature Capital Ltd increased its stake in shares of Western Copper and Gold by 172.2% during the 4th quarter. Quadrature Capital Ltd now owns 518,789 shares of the company's stock valued at $1,388,000 after acquiring an additional 328,189 shares during the last quarter. Global Strategic Management Inc. acquired a new position in shares of Western Copper and Gold during the 4th quarter valued at about $870,000. PenderFund Capital Management Ltd. acquired a new position in shares of Western Copper and Gold during the 3rd quarter valued at about $632,000. Finally, XTX Topco Ltd acquired a new position in shares of Western Copper and Gold during the 4th quarter valued at about $179,000. Institutional investors and hedge funds own 21.96% of the company's stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and issued a $5.75 target price on shares of Western Copper and Gold in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average price target of $5.75.

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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