Western Copper and Gold (NYSEAMERICAN:WRN) Trading Down 6.5% – Should You Sell?

Shares of Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) dropped 6.5% on Thursday . The company traded as low as $2.35 and last traded at $2.3650. Approximately 2,113,628 shares were traded during trading, an increase of 2% from the average session volume of 2,076,861 shares. The stock had previously closed at $2.53.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $5.75 price objective on shares of Western Copper and Gold in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $5.75.

Western Copper and Gold Price Performance

The company has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $2.90. The company has a market cap of $535.05 million, a PE ratio of -237.00 and a beta of 1.19.

Institutional Trading of Western Copper and Gold

A number of hedge funds have recently made changes to their positions in WRN. Dimensional Fund Advisors LP purchased a new position in shares of Western Copper and Gold in the fourth quarter valued at $28,000. Jones Financial Companies Lllp purchased a new stake in Western Copper and Gold during the 3rd quarter worth $30,000. Centiva Capital LP purchased a new stake in Western Copper and Gold during the 3rd quarter worth $31,000. International Assets Investment Management LLC increased its stake in Western Copper and Gold by 45.6% during the 4th quarter. International Assets Investment Management LLC now owns 18,200 shares of the company’s stock worth $49,000 after buying an additional 5,700 shares during the period. Finally, Brookstone Capital Management acquired a new position in Western Copper and Gold in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 21.96% of the company’s stock.

About Western Copper and Gold

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.