Western Copper & Gold (NYSE:WRN) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright has raised the target price for Western Copper & Gold from $4.00 to $4.25, indicating a potential upside of 129.73% from its current price, and maintaining a "buy" rating on the stock.
• Institutional investors, including Bank of America and Goldman Sachs, have significantly increased their stakes in Western Copper & Gold, demonstrating growing confidence in the company.
• Western Copper & Gold's current market capitalization stands at approximately $373.06 million, with a 12-month price range between $0.90 and $1.97.

Western Copper & Gold (NYSE:WRN - Get Free Report) had its target price lifted by investment analysts at HC Wainwright from $4.00 to $4.25 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 129.73% from the company's current price.

Separately, Stifel Canada raised shares of Western Copper & Gold to a "strong-buy" rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $4.25.

Western Copper & Gold Trading Up 1.1%

WRN opened at $1.85 on Friday. The firm's fifty day simple moving average is $1.43 and its 200 day simple moving average is $1.26. Western Copper & Gold has a 12 month low of $0.90 and a 12 month high of $1.97. The stock has a market capitalization of $373.06 million, a P/E ratio of -92.50 and a beta of 1.07.

Hedge Funds Weigh In On Western Copper & Gold

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in Western Copper & Gold by 42.3% during the first quarter. Russell Investments Group Ltd. now owns 859,785 shares of the company's stock worth $980,000 after buying an additional 255,642 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Western Copper & Gold by 98.0% in the first quarter. Goldman Sachs Group Inc. now owns 488,693 shares of the company's stock valued at $555,000 after purchasing an additional 241,868 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Western Copper & Gold in the second quarter valued at $271,000. Bank of America Corp DE increased its stake in Western Copper & Gold by 1,579.4% in the second quarter. Bank of America Corp DE now owns 124,276 shares of the company's stock valued at $155,000 after purchasing an additional 116,876 shares in the last quarter. Finally, Marex Group plc bought a new stake in Western Copper & Gold in the second quarter valued at $143,000. Institutional investors and hedge funds own 21.96% of the company's stock.

About Western Copper & Gold

Western Copper & Gold Corp. operates as an exploration stage company, which engages in the acquisition, exploration, and future development of mineral resource properties. It currently focuses on the development of the Casino Project. The company was founded on March 17, 2006 and is headquartered in Vancouver, Canada.

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