Western Copper and Gold (WRN) Projected to Post Quarterly Earnings on Thursday

Western Copper and Gold (NYSEAMERICAN:WRN) (TSE:WRN) will likely be announcing its results after the market closes on Thursday, May 7th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter.

Western Copper and Gold Price Performance

Western Copper and Gold stock traded up $0.02 during mid-day trading on Tuesday, reaching $2.79. 618,509 shares of the company traded hands, compared to its average volume of 2,042,283. The firm’s 50 day moving average price is $2.80 and its 200 day moving average price is $2.76. The firm has a market capitalization of $628.38 million, a price-to-earnings ratio of -92.83 and a beta of 1.16. Western Copper and Gold has a 52-week low of $1.02 and a 52-week high of $4.26.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in shares of Western Copper and Gold by 696.3% during the 3rd quarter. Bank of America Corp DE now owns 989,615 shares of the company’s stock valued at $1,950,000 after buying an additional 865,339 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of 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 buying an additional 833,348 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Western Copper and Gold by 196.9% during the 4th quarter. Marshall Wace LLP now owns 857,181 shares of the company’s stock valued at $2,289,000 after buying an additional 568,468 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Western Copper and Gold by 110.8% during the 3rd quarter. Mackenzie Financial Corp now owns 970,084 shares of the company’s stock valued at $1,923,000 after buying an additional 510,000 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Western Copper and Gold by 171.3% during the 4th quarter. Millennium Management LLC now owns 686,447 shares of the company’s stock valued at $1,834,000 after buying an additional 433,420 shares in the last quarter. 21.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued 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 issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and a consensus target price of $5.75.

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.