Western Copper and Gold Corporation (NYSEAMERICAN:WRN) Short Interest Update

Western Copper and Gold Corporation (NYSEAMERICAN:WRN) (TSE:WRN) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 2,174,777 shares, an increase of 47.6% from the March 15th total of 1,472,975 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,651,738 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.75 target price on shares of Western Copper and Gold in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and an average target price of $5.75.

Institutional Investors Weigh In On Western Copper and Gold

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP purchased a new stake in shares of Western Copper and Gold during the fourth quarter worth about $28,000. International Assets Investment Management LLC purchased a new stake in shares of Western Copper and Gold during the third quarter worth about $25,000. Jones Financial Companies Lllp purchased a new stake in shares of Western Copper and Gold during the third quarter worth about $30,000. Centiva Capital LP purchased a new stake in shares of Western Copper and Gold during the third quarter worth about $31,000. Finally, Brookstone Capital Management purchased a new stake in shares of Western Copper and Gold during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 21.96% of the company’s stock.

Western Copper and Gold Trading Down 2.7%

Shares of Western Copper and Gold stock traded down $0.08 during trading on Thursday, hitting $2.73. 927,865 shares of the stock traded hands, compared to its average volume of 2,091,945. The firm has a market cap of $614.81 million, a P/E ratio of -90.83 and a beta of 1.21. Western Copper and Gold has a 52-week low of $1.02 and a 52-week high of $4.26. The stock’s fifty day simple moving average is $2.88 and its 200 day simple moving average is $2.70.

Western Copper and Gold Company 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.