WRN
Western Copper and Gold CorporationBasic Materials·Industrial Materials
$2.98
$672M market cap
Revenue
$0.0M
Free Cash Flow
$-2.1M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Western Copper and Gold Corporation, an exploration stage company, engages in the exploration and development of mineral properties in Canada. The company explores for gold, copper, silver, and molybdenum deposits. Its principal property is the Casino mineral property that comprise 1,136 full and partial quartz claims, and 55 placer claims located in Yukon, Canada. The company was formerly known as Western Copper Corporation and changed its name to Western Copper and Gold Corporation in October
2-Year Price History
$2.72+130.5%
Quarterly Financials & Projections
Quarterly Waterfall (CAD M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -2.9 | -2.9 | -2.5 | -1.2 | -1.2 | -0.0 | 134.7 | 0.1 | 211.3 | -7.9% | -- | -- |
| Act | 2025-Q4 | 0.0 | -1.5 | -1.5 | -1.0 | -0.9 | -0.9 | -0.0 | 50.5 | 0.2 | 202.3 | -9.4% | -- | -- |
Valuation & Metrics
Market Stats
Price$2.98
Market Cap$672M
Enterprise Value$793M
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-0.2%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-3.5M
Free Cash Flow$-2.1M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-8.6%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.9M
Days to Cover1.1
Change (vs Prior)+5.5%
Need at least 2 settlement dates for chart
Employees
Headcount15
Revenue / Employee$0
Gross Profit / Employee$-4,343
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
19.8%(+14.9% YoY)
81 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.0%(+0.0% YoY)
1 filers
Vanguard, iShares, SPDR
Market makers
0.3%(+0.3% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| FMR LLC | $17.3M | $2.21 | +$6.3M | −$4.3M | -0.0% | $1.89T |
| Tidal Investments LLC | $15.1M | $1.79 | +$2.7M | +$7.1M | -0.2% | $32.04B |
| FRANKLIN RESOURCES INC | $12.7M | $2.44 | +$405K | +$609K | -0.2% | $403.03B |
| Claret Asset Management Corp | $9.4M | $1.34 | +$0 | +$0 | -1.5% | $831M |
| Waratah Capital Advisors Ltd. | $7.9M | $2.53 | +$7.9M | +$7.9M | +0.8% | $1.12B |
| Euro Pacific Asset Management, LLC | $6.0M | $2.07 | +$3.5M | +$3.4M | +2.0% | $1.01B |
| BANK OF AMERICA CORP /DE/ | $5.4M | $2.23 | +$1.2M | +$5.4M | -0.1% | $1.36T |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $4.2M | $2.54 | +$3.9M | +$4.2M | +0.1% | $184.72B |
| MORGAN STANLEY | $3.9M | $1.96 | +$2.2M | +$3.5M | -0.3% | $1.65T |
| Auxano Advisors, LLC | $2.8M | $2.64 | +$516K | +$2.8M | -0.1% | $500M |
| MILLENNIUM MANAGEMENT LLC | $2.6M | $2.24 | +$834K | +$2.4M | -0.5% | $127.40B |
| TWO SIGMA INVESTMENTS, LP | $2.6M | $2.53 | +$2.5M | +$2.6M | -0.9% | $117.03B |
| MACKENZIE FINANCIAL CORP | $2.4M | $1.95 | +$0 | +$1.3M | -0.2% | $83.32B |
| GOLDMAN SACHS GROUP INC | $2.4M | $1.49 | +$513K | +$1.2M | -0.2% | $760.93B |
| Walleye Capital LLC | $2.2M | $2.53 | +$2.2M | +$2.2M | -14.9% | $15.09B |
| MARSHALL WACE, LLP | $2.2M | $2.44 | +$55K | +$2.2M | +0.6% | $92.71B |
| TORONTO DOMINION BANK | $2.0M | $2.40 | +$1.8M | +$2.0M | -0.3% | $51.69B |
| Connor, Clark & Lunn Investment Management Ltd. | $1.8M | $2.30 | +$875K | +$1.8M | +0.6% | $43.38B |
| GAMCO INVESTORS, INC. ET AL | $1.4M | $1.87 | +$17K | +$284K | -0.0% | $10.15B |
| SUSQUEHANNA INTERNATIONAL GROUP, LLPMM | $1.2M | $2.52 | +$1.2M | +$1.2M | -0.6% | $77.14B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-0.24%
avg per quarter
Holders (ex-self)
-0.24%
excl. this stock
Buyers (this Q)
-0.51%
57 buyers · $0.05B in
Sellers (this Q)
+1.09%
11 sellers · $0.00B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-3.0%
how holders react when this stock falls
On quiet Qs
+0.6%
−10% to +10% baseline
On rallies (+10%+)
+9.8%
how they react when this stock rises
Holders' portfolio flow this Q
+7.0%
inflows — adds are organic
Sellers' portfolio flow this Q
-5.1%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-5.4%
Holder mid (any stock)
-3.1%
Holder rally (any stock)
-5.4%
Biggest decreases this quarter
Millstone Evans Group, LLCexited−$691KLido Advisors, LLC−$305Kα+1.8CIBC Bancorp USA Inc.exited−$99KACADIAN ASSET MANAGEMENT LLCexited−$93KDIMENSIONAL FUND ADVISORS LPexited−$28KOPPENHEIMER & CO INCexited−$27KArax Advisory Partnersexited−$16KNewEdge Advisors, LLCexited−$1KMAI Capital Managementexited−$0US BANCORP \DE\exited−$0
New buyers this quarter
Top-5 holders · 50.1%
FMR LLC--
Tidal Investments LLC--
FRANKLIN RESOURCES INC--
Claret Asset Management Corp--
Waratah Capital Advisors Ltd.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FMR LLC6.8MTidal Investments LLC6.0MFRANKLIN RESOURCES INC5.0MClaret Asset Management Corp3.7MWaratah Capital Advisors Ltd.3.1MEuro Pacific Asset Management, LLC2.4MBANK OF AMERICA CORP /DE/2.1MARROWSTREET CAPITAL, LIMITED PARTNERSHIP1.7MMORGAN STANLEY1.5MROYAL BANK OF CANADA97K
Analyst Coverage
Analyst Coverage
Price Targets
Last Year (1 analysts)$4.003420.0%
Current Price$2.98
Analyst Ratings
2
Buy: 2Consensus: Buy
Corporate
Order Flow (FINRA, ~3w lag)
30.1%retail+5.0pp
11.1%dark-5.4pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Western Copper and Gold: Significant Governance Creep and Relentless Equity Thirst
Overall Risk
6/10
Fraud
3/10
Dilution
8/10
Insolvency
4/10
Earnings Overstated
7/10
Hidden Liabilities
3/10
Legal
4/10
Audit Warnings
2/10
Hidden Upside
6/10
Contextually Acceptable
7/10