Tidal Investments LLC Buys 2,490,255 Shares of Western Copper and Gold Corporation $WRN

Tidal Investments LLC grew its position in shares of Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) by 41.7% in the 2nd quarter, Holdings Channel reports. The firm owned 8,466,144 shares of the company’s stock after acquiring an additional 2,490,255 shares during the quarter. Tidal Investments LLC’s holdings in Western Copper and Gold were worth $18,964,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Engineers Gate Manager LP bought a new position in shares of Western Copper and Gold during the 2nd quarter worth approximately $223,000. PenderFund Capital Management Ltd. bought a new position in shares of Western Copper and Gold in the 2nd quarter worth $900,000. Bank of America Corp DE bought a new position in shares of Western Copper and Gold in the 2nd quarter worth $5,229,000. Cibc World Market Inc. acquired a new stake in Western Copper and Gold in the 2nd quarter valued at $423,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Western Copper and Gold in the 2nd quarter valued at $704,000. Institutional investors own 21.96% of the company’s stock.

Western Copper and Gold Stock Down 6.6%

Western Copper and Gold stock opened at $2.39 on Friday. Western Copper and Gold Corporation has a twelve month low of $1.53 and a twelve month high of $4.26. The firm has a 50 day moving average price of $2.32 and a 200-day moving average price of $2.58. The company has a market capitalization of $539.76 million, a P/E ratio of -119.50 and a beta of 1.32.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WRN. UBS Group reiterated a “buy” rating and set a $5.25 price objective on shares of Western Copper and Gold in a report on Wednesday, August 26th. HC Wainwright reaffirmed a “buy” rating and issued a $5.75 price target on shares of Western Copper and Gold in a research report on Friday, September 4th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $5.50.

Western Copper and Gold 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.