Short Interest in Western Copper and Gold Corporation (NYSEAMERICAN:WRN) Drops By 35.0%

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) was the recipient of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 1,373,122 shares, a decline of 35.0% from the February 12th total of 2,111,956 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 2,368,044 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 2,368,044 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Western Copper and Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WRN. Goldman Sachs Group Inc. increased its stake in shares of Western Copper and Gold by 98.0% in the first quarter. Goldman Sachs Group Inc. now owns 488,693 shares of the company’s stock worth $555,000 after purchasing an additional 241,868 shares in the last quarter. Prospera Financial Services Inc lifted its stake in shares of Western Copper and Gold by 213.1% during the 2nd quarter. Prospera Financial Services Inc now owns 119,750 shares of the company’s stock valued at $150,000 after buying an additional 81,500 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Western Copper and Gold by 25.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 93,757 shares of the company’s stock worth $117,000 after buying an additional 19,221 shares during the period. JPMorgan Chase & Co. bought a new position in Western Copper and Gold in the 2nd quarter worth approximately $87,000. Finally, XTX Topco Ltd grew its stake in Western Copper and Gold by 317.9% in the 2nd quarter. XTX Topco Ltd now owns 50,877 shares of the company’s stock valued at $64,000 after buying an additional 38,704 shares in the last quarter. Institutional investors own 21.96% of the company’s stock.

Western Copper and Gold Price Performance

Shares of NYSEAMERICAN WRN traded down $0.18 during trading on Friday, reaching $2.77. 1,578,056 shares of the stock traded hands, compared to its average volume of 1,969,063. The stock has a market capitalization of $623.75 million, a P/E ratio of -277.00 and a beta of 1.02. Western Copper and Gold has a 52-week low of $0.90 and a 52-week high of $4.26. The company has a 50-day moving average of $3.29 and a 200-day moving average of $2.55.

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.