Western Copper (WRN) AI Stock Analysis

• Market Cap: C$957.75M
• Dividend Yield: N/A
• Average Volume (3M): 208.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.67
• Revenue Growth: N/A
• EPS Growth: 41.98%
• Country: CA
• Employees: 15
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 202,056,430
• 10 Day Avg. Volume: 217,998
• 30 Day Avg. Volume: 208,439
• PEG Ratio: -0.54
• Price to Book (P/B): 1.50
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -15.29
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$6.99
• Price Target Upside: 49.93% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.03
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: C$4.00 ▼(-14.16% Downside)

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and significant cash burn). Technicals are a positive offset with a strong uptrend and supportive momentum, though near-overbought readings add risk. Valuation remains pressured because losses make the negative P/E less informative and no dividend support is available.

Positive Factors

Large strategic asset (Casino Project)

Owning a large, multi-commodity deposit creates long-term strategic optionality: scale attracts industry partners and diverse metal exposure (copper, gold, molybdenum, silver) improves resilience to single-commodity cycles and enhances potential for high-value JV or sale outcomes.

Clear value-creation and monetization model

A defined strategy to de-risk then monetize via sale, JV, or project financing provides structural flexibility. Multiple exit routes reduce single-path execution risk, allowing management to choose the most accretive route as market or partner conditions evolve over months to years.

Conservative leverage and capitalization

Very low debt levels reduce solvency and refinancing risk during prolonged development cycles. Strong equity capitalization preserves optionality to pursue permitting and technical studies without immediate debt pressure, enabling better negotiation leverage for future JV or financing.

Negative Factors

Pre-revenue company with persistent losses

Being pre-revenue means no operating cash inflows; persistent net losses indicate the business cannot self-fund development. Until the project is monetized or financed, shareholders rely on capital markets or partners, making long-term value realization uncertain and milestone-dependent.

Sustained negative operating and free cash flow

Material and recurring cash burn requires ongoing external funding, increasing dilution or dependence on partner financing. Persistent negative FCF constrains ability to advance the project organically, could delay permits or studies, and raises execution and timing risk for monetization.

Negative returns on equity despite solid equity base

Consistent negative ROE signals management has not converted the equity base into shareholder value; value creation is contingent on a single asset's successful de-risking. This concentration increases governance and execution risk until a JV, sale, or financing is secured.

Western Copper Business Overview & Revenue Model

Company Description

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 2011. Western Copper and Gold Corporation was incorporated in 2006 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Western Copper and Gold Corporation makes money primarily through the development of its mineral resources. The company generates revenue by advancing its Casino Project towards production, which involves activities such as exploration, feasibility studies, and obtaining necessary permits. Once operational, the company plans to extract and sell copper, gold, and molybdenum, which are the primary revenue streams. Additionally, WRN may also earn income through strategic partnerships, joint ventures, or selling stakes in its projects to other mining companies. These partnerships can provide financial resources and technical expertise, contributing significantly to project development and potential earnings.

Western Copper Financial Statement Overview

Summary

Western Copper's financial performance is typical for a mining company in the exploration phase with no revenue generation. The strong equity position and minimal debt provide financial stability. However, ongoing operational losses and negative cash flows raise concerns unless the company can advance projects to generate revenue.

Income Statement

Western Copper's income statement reveals a consistent lack of revenue generation, which is typical for mining companies in the exploration phase. The company has maintained negative net income over multiple periods, highlighting ongoing operational challenges and significant costs relative to nonexistent revenue. Margins such as Gross Profit Margin, Net Profit Margin, EBIT, and EBITDA Margins are not applicable due to zero revenue. This pattern suggests a need for successful project development to improve financial outcomes.

Balance Sheet

The balance sheet of Western Copper shows a strong equity position relative to its liabilities, indicating low leverage and financial stability. The Debt-to-Equity ratio is minimal due to low debt levels, and the Equity Ratio is high, reflecting the company's reliance on equity financing. However, the lack of income generation poses risks to long-term sustainability unless new revenue streams are established.

Cash Flow

The company experiences negative operating and free cash flows, reflecting ongoing cash burn typical of companies in development phases without revenue. Although free cash flow showed improvement in the latest TTM period, it remains negative. Positive financing cash flows indicate reliance on external funding to support operations, highlighting a dependency on capital markets for liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-80.09K	-157.06K	-206.90K	-167.89K	-103.26K	0.00
EBITDA	-8.14M	-6.76M	-3.13M	-4.76M	-4.02M	0.00
Net Income	-3.75M	-6.92M	-3.34M	-5.06M	-3.14M	-1.45M
Balance Sheet
Total Assets	198.29M	192.79M	143.92M	114.38M	115.49M	83.81M
Cash, Cash Equivalents and Short-Term Investments	56.11M	69.05M	32.07M	23.12M	47.87M	29.38M
Total Debt	278.84K	60.64K	197.81K	417.98K	433.32K	0.00
Total Liabilities	5.48M	3.18M	4.47M	4.64M	3.42M	1.18M
Stockholders Equity	192.81M	189.61M	139.44M	109.74M	112.07M	82.63M
Cash Flow
Free Cash Flow	-23.56M	-18.55M	-22.44M	-24.27M	-15.27M	-7.68M
Operating Cash Flow	-3.44M	-4.73M	-2.54M	-3.34M	-3.87M	-2.37M
Investing Cash Flow	-5.66M	-61.32M	-3.90M	-25.93M	-27.40M	-5.31M
Financing Cash Flow	3.02M	54.29M	31.07M	-75.90K	33.31M	34.69M

Western Copper Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.66
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WRN, the sentiment is Positive. The current price of 4.66 is above the 20-day moving average (MA) of 4.08, above the 50-day MA of 3.53, and above the 200-day MA of 2.36, indicating a bullish trend. The MACD of 0.33 indicates Negative momentum. The RSI at 70.70 is Negative, neither overbought nor oversold. The STOCH value of 83.46 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:WRN.

Western Copper Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ALDE	60 Neutral	C$694.23M	-76.19	-6.72%	―	―	-572.97%
TMQ	54 Neutral	C$1.34B	-99.75	-7.00%	―	―	7.70%
WRN	52 Neutral	C$957.75M	-247.87	-1.92%	―	―	41.98%
MNO	52 Neutral	C$611.21M	-17.15	-62.98%	―	―	-23.64%
UCU	50 Neutral	C$951.24M	-23.31	-75.16%	―	―	-58.77%
NCX	49 Neutral	C$925.03M	-93.59	-31.51%	―	―	11.83%

Western Copper Corporate Events

Western Copper and Gold Supports Major Infrastructure Initiative

Western Copper and Gold Corporation has welcomed the Canadian Prime Minister’s referral of the Northwest Critical Conservation Corridor, which includes the Yukon-B.C. Grid Connect, to the Major Projects Office. This initiative aims to enhance critical minerals development and clean power transmission while respecting Indigenous rights. The Yukon-B.C. Grid Connect could potentially generate significant economic growth, create thousands of jobs, and support renewable energy projects, with Western’s Casino Project serving as a key component in this development.

The most recent analyst rating on (TSE:WRN) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Western Copper stock, see the TSE:WRN Stock Forecast page.

Western Copper and Gold Strengthens Board with New Appointment

Western Copper and Gold Corporation has appointed Mark E. Smith to its Board of Directors, enhancing its leadership with his extensive global mining experience. Smith’s expertise, particularly in the Yukon, is expected to bolster the company’s efforts in advancing the Casino Project through environmental assessment and permitting, reinforcing Western’s commitment to high technical and environmental standards.

The most recent analyst rating on (TSE:WRN) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Western Copper stock, see the TSE:WRN Stock Forecast page.