Western Copper and Gold (NYSEAMERICAN:WRN) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Western Copper and Gold (NYSEAMERICAN:WRN) (TSE:WRN) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $5.75 target price on the stock.

Western Copper and Gold Price Performance

NYSEAMERICAN WRN opened at $2.48 on Wednesday. The company’s fifty day moving average is $3.18 and its two-hundred day moving average is $2.61. Western Copper and Gold has a 52-week low of $0.90 and a 52-week high of $4.26. The firm has a market capitalization of $559.54 million, a price-to-earnings ratio of -248.00 and a beta of 1.02.

Hedge Funds Weigh In On Western Copper and Gold

A number of hedge funds have recently made changes to their positions in WRN. Virtu Financial LLC bought a new position in shares of Western Copper and Gold during the 4th quarter worth about $112,000. XTX Topco Ltd bought a new stake in Western Copper and Gold in the fourth quarter valued at about $179,000. Quadrature Capital Ltd raised its position in Western Copper and Gold by 172.2% in the fourth quarter. Quadrature Capital Ltd now owns 518,789 shares of the company’s stock worth $1,388,000 after purchasing an additional 328,189 shares in the last quarter. Millennium Management LLC raised its position in Western Copper and Gold by 171.3% in the fourth quarter. Millennium Management LLC now owns 686,447 shares of the company’s stock worth $1,834,000 after purchasing an additional 433,420 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Western Copper and Gold by 196.9% during the fourth quarter. Marshall Wace LLP now owns 857,181 shares of the company’s stock worth $2,289,000 after purchasing an additional 568,468 shares during the period. Institutional investors and hedge funds own 21.96% of the company’s stock.

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.