Western Copper and Gold (NYSEAMERICAN:WRN) Shares Break Below Fifty Day Moving Average – Here’s Why

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN)’s stock price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.36 and traded as low as $2.12. Western Copper and Gold shares last traded at $2.17, with a volume of 1,097,716 shares.

Analyst Ratings Changes

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

Western Copper and Gold Stock Down 1.4%

The stock has a market cap of $461.61 million, a price-to-earnings ratio of -102.00 and a beta of 1.31. The company’s 50-day simple moving average is $2.36 and its 200-day simple moving average is $2.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in shares of Western Copper and Gold in the 2nd quarter valued at approximately $27,000. International Assets Investment Management LLC grew its position in Western Copper and Gold by 191.2% during the 1st quarter. International Assets Investment Management LLC now owns 53,000 shares of the company’s stock worth $139,000 after purchasing an additional 34,800 shares in the last quarter. BlackRock Inc. acquired a new stake in Western Copper and Gold during the 2nd quarter valued at $173,000. Engineers Gate Manager LP purchased a new stake in shares of Western Copper and Gold in the second quarter valued at $223,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Western Copper and Gold in the second quarter worth $423,000. 21.96% of the stock is currently owned by institutional investors and hedge funds.

Western Copper and Gold Company Profile

Western Copper and Gold Corporation is a mineral exploration and development company focused on advancing the Casino Project in Yukon, Canada. The company’s primary objective is to develop the project as a potential open-pit mining operation.

The Casino Project is a large copper-gold-molybdenum deposit that also contains silver. Western Copper and Gold is responsible for exploration, engineering, environmental assessment, permitting and other development activities related to the project.