Western Copper and Gold (NYSEAMERICAN:WRN) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.75 and traded as low as $2.60. Western Copper and Gold shares last traded at $2.61, with a volume of 1,983,439 shares.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed 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 assigned a Buy rating to the company’s stock. According to data from MarketBeat, Western Copper and Gold presently has an average rating of “Strong Buy” and an average target price of $5.75.

Western Copper and Gold Trading Down 4.7%

The stock’s 50 day moving average price is $2.81 and its two-hundred day moving average price is $2.75. The firm has a market capitalization of $588.89 million, a PE ratio of -87.00 and a beta of 1.21.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WRN. Auxano Advisors LLC acquired a new position in Western Copper and Gold during the fourth quarter valued at approximately $2,456,000. Bank of America Corp DE raised its position in shares of Western Copper and Gold by 696.3% in the 3rd quarter. Bank of America Corp DE now owns 989,615 shares of the company’s stock valued at $1,950,000 after purchasing an additional 865,339 shares in the last quarter. Tidal Investments LLC boosted its stake in Western Copper and Gold by 33.0% during the 3rd quarter. Tidal Investments LLC now owns 3,358,509 shares of the company’s stock valued at $6,616,000 after acquiring an additional 833,348 shares during the last quarter. Euro Pacific Asset Management LLC lifted its position in shares of Western Copper and Gold by 164.6% during the fourth quarter. Euro Pacific Asset Management LLC now owns 1,035,506 shares of the company’s stock worth $2,763,000 after purchasing an additional 644,198 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Western Copper and Gold by 196.9% during the 4th quarter. Marshall Wace LLP now owns 857,181 shares of the company’s stock worth $2,289,000 after buying an additional 568,468 shares during the last quarter. 21.96% of the stock is owned by hedge funds and other institutional investors.

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.