Western Copper and Gold Corporation (NYSEAMERICAN:WRN) Short Interest Down 16.8% in April

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totaling 1,810,149 shares, a decline of 16.8% from the March 31st total of 2,174,777 shares. Based on an average daily trading volume, of 2,134,001 shares, the short-interest ratio is currently 0.8 days. Approximately 0.8% of the shares of the company are sold short.

Western Copper and Gold Stock Up 2.2%

NYSEAMERICAN WRN traded up $0.06 during trading hours on Friday, reaching $2.85. The company’s stock had a trading volume of 1,715,282 shares, compared to its average volume of 1,953,456. The firm’s 50-day moving average price is $2.80 and its 200-day moving average price is $2.75. Western Copper and Gold has a 1 year low of $1.02 and a 1 year high of $4.26. The company has a market capitalization of $643.05 million, a price-to-earnings ratio of -95.00 and a beta of 1.16.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WRN. International Assets Investment Management LLC purchased a new position in Western Copper and Gold in the 3rd quarter worth approximately $25,000. Dimensional Fund Advisors LP bought a new stake in Western Copper and Gold in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in Western Copper and Gold in the 3rd quarter worth approximately $30,000. Centiva Capital LP bought a new stake in Western Copper and Gold in the 3rd quarter worth approximately $31,000. Finally, Jane Street Group LLC bought a new stake in Western Copper and Gold in the 2nd quarter worth approximately $45,000. 21.96% of the stock is owned by hedge funds and other institutional investors.

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.