Analyst Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Western Copper (WRN – Research Report) and keeping the price target at $4.25.
Heiko Ihle’s rating is based on several key developments and strategic initiatives undertaken by Western Copper and Gold Corporation. The company has made significant progress in its infrastructure efforts, particularly with the Casino Copper-Gold Project. A notable achievement is the conditional approval of $40 million in funding from Natural Resources Canada for a high-voltage transmission energy corridor, which will connect the Yukon grid to the North American grid in British Columbia. This development is crucial for meeting the project’s long-term power needs and demonstrates strong governmental and regional support.
Additionally, Western Copper has completed an updated transportation study that explores cost-effective methods for shipping concentrate from the Casino Project to the Port of Skagway. The study identified several transportation options that align with or are more economical than previous estimates, highlighting the company’s commitment to optimizing cost-efficiency. Ihle reiterates a Buy rating with a price target of $4.25, supported by a discounted cash flow valuation and a 16% discount rate, reflecting the project’s progress and favorable commodity pricing.
Ihle covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Franco-Nevada, and MAG Silver. According to TipRanks, Ihle has an average return of 0.4% and a 38.99% success rate on recommended stocks.