Western Copper and Gold (NYSEAMERICAN:WRN) Trading 6.5% Higher – Time to Buy?

Shares of Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) were up 6.5% during trading on Monday . The stock traded as high as $2.71 and last traded at $2.7050. Approximately 994,888 shares changed hands during trading, a decline of 52% from the average daily volume of 2,056,481 shares. The stock had previously closed at $2.54.

Analysts Set New Price Targets

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

Western Copper and Gold Price Performance

The company has a market capitalization of $612.56 million, a price-to-earnings ratio of -90.83 and a beta of 1.21. The firm has a 50-day moving average price of $3.03 and a two-hundred day moving average price of $2.66.

Institutional Investors Weigh In On Western Copper and Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in Western Copper and Gold during the 3rd quarter worth about $25,000. Dimensional Fund Advisors LP acquired a new stake in shares of Western Copper and Gold in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in Western Copper and Gold during the third quarter worth about $30,000. Centiva Capital LP acquired a new position in Western Copper and Gold during the third quarter valued at approximately $31,000. Finally, Jane Street Group LLC acquired a new position in Western Copper and Gold during the second quarter valued at approximately $45,000. 21.96% of the stock is currently owned by institutional investors and hedge funds.

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.