Western Copper and Gold Corporation [WRN] moved up 12.60: Why It’s Important

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Western Copper and Gold Corporation [AMEX: WRN] price surged by 12.60 percent to reach at $0.16. The company report on November 25, 2020 that Project Agreement Reached for Upgrades to Casino Access Road.

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VANCOUVER, BC, Nov. 25, 2020 /CNW/ – Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN) (NYSE American: WRN) is pleased to report that the Yukon Government and Little Salmon/Carmacks First Nation have reached an agreement (the “Agreement”) to upgrade three bridges along the Freegold Road, which will benefit access to the Casino Project. The Agreement provides funding for Little Salmon/Carmacks First Nation to effectively participate in the planning, design, regulatory processes and construction activities of the project.

This Agreement represents the second project agreement for the Yukon Resource Gateway Project (the “Gateway Project”) on the Freegold Road. The Gateway Project includes funding for upgrading the initial 82 km of the existing access road to standards required for the Casino Project and 30% funding for the additional 126 km of new access road to the Casino site secured through commitments from the Yukon Government and the Federal Government.

A sum of 1131041 shares traded at recent session while its average daily volume was at 302.57K shares. Western Copper and Gold Corporation shares reached a high of $1.44 and dropped to a low of $1.24 until finishing in the latest session at $1.43.

Guru’s Opinion on Western Copper and Gold Corporation [WRN]:

ROTH Capital have made an estimate for Western Copper and Gold Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 27, 2020. The new note on the price target was released on October 26, 2017, representing the official price target for Western Copper and Gold Corporation stock.

The Average True Range (ATR) for Western Copper and Gold Corporation is set at 0.08 The Price to Book ratio for the last quarter was 4.10.

WRN Stock Performance Analysis:

Western Copper and Gold Corporation [WRN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.00. With this latest performance, WRN shares gained by 30.68% in over the last four-week period, additionally plugging by 64.31% over the last 6 months – not to mention a rise of 98.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WRN stock in for the last two-week period is set at 71.95, with the RSI for the last a single of trading hit 77.81, and the three-weeks RSI is set at 66.05 for Western Copper and Gold Corporation [WRN]. The present Moving Average for the last 50 days of trading for this stock 1.1628, while it was recorded at 1.3030 for the last single week of trading, and 0.9500 for the last 200 days.

Insight into Western Copper and Gold Corporation Fundamentals:

Return on Total Capital for WRN is now -5.19, given the latest momentum, and Return on Invested Capital for the company is -3.67. Return on Equity for this stock declined to -3.67, with Return on Assets sitting at -3.63.

Reflecting on the efficiency of the workforce at the company, Western Copper and Gold Corporation [WRN] managed to generate an average of -$196,272 per employee.

Western Copper and Gold Corporation [WRN] Insider Position Details

There are presently around $8 million, or 7.44% of WRN stock, in the hands of institutional investors. The top three institutional holders of WRN stocks are: CLARET ASSET MANAGEMENT CORP with ownership of 3,698,800, which is approximately 0% of the company’s market cap and around 8.62% of the total institutional ownership; SPROTT INC., holding 943,000 shares of the stock with an approximate value of $1.35 million in WRN stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.89 million in WRN stock with ownership of nearly 238.791% of the company’s market capitalization.

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Positions in Western Copper and Gold Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 10 institutional holders increased their position in Western Copper and Gold Corporation [AMEX:WRN] by around 1,778,974 shares. Additionally, 4 investors decreased positions by around 145,910 shares, while 10 investors held positions by with 3,896,155 shares. The mentioned changes placed institutional holdings at 5,821,039 shares, according to the latest SEC report filing. WRN stock had 5 new institutional investments in for a total of 953,342 shares, while 2 institutional investors sold positions of 11,700 shares during the same period.

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