Western Copper & Gold (NYSE:WRN) Shares Up 3.1% – What’s Next?

Western Copper & Gold Corp (NYSE:WRN) shares rose 3.1% on Friday . The company traded as high as $2.95 and last traded at $2.95. Approximately 352,779 shares changed hands during trading, a decline of 41% from the average daily volume of 593,913 shares. The stock had previously closed at $2.86.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their target price on Western Copper & Gold from $4.00 to $4.25 and gave the stock a “buy” rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, Western Copper & Gold currently has an average rating of “Buy” and a consensus price target of $4.25.

Western Copper & Gold Price Performance

The stock has a market cap of $604.15 million, a PE ratio of -149.50 and a beta of 1.06. The company’s fifty day moving average is $2.33 and its 200-day moving average is $1.79.

Institutional Trading of Western Copper & Gold

A number of hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in shares of Western Copper & Gold by 42.3% during the 1st quarter. Russell Investments Group Ltd. now owns 859,785 shares of the company’s stock valued at $980,000 after purchasing an additional 255,642 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Western Copper & Gold by 98.0% during the first quarter. Goldman Sachs Group Inc. now owns 488,693 shares of the company’s stock worth $555,000 after buying an additional 241,868 shares in the last quarter. Wealth Management Associates Inc. grew its position in Western Copper & Gold by 42.8% during the second quarter. Wealth Management Associates Inc. now owns 63,400 shares of the company’s stock valued at $79,000 after buying an additional 19,000 shares during the period. Prospera Financial Services Inc increased its holdings in Western Copper & Gold by 213.1% in the second 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. Finally, Quadrature Capital Ltd acquired a new position in shares of Western Copper & Gold in the second quarter worth about $271,000. Hedge funds and other institutional investors own 21.96% of the company’s stock.

Western Copper & Gold Company Profile

Western Copper & Gold Corporation is a Canadian-based mineral exploration and development company focused on advancing large-scale copper and gold projects. Headquartered in Vancouver, British Columbia, the company is publicly traded on the New York Stock Exchange American under the ticker WRN and on the Toronto Stock Exchange under WRN. Its principal asset is the 100%-owned Casino Project, located in Canada’s Yukon Territory, which is recognized as one of the largest undeveloped copper-gold porphyry deposits in North America.

The company’s core activities encompass geological exploration, drilling, metallurgical testing and comprehensive feasibility studies.