Western Copper Corp (TSE:WRN)
TSX:WRN
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Western Copper
(TSX:WRN)
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Rating:50Neutral
Price Target:
C$4.00
▲(1.52% Upside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and materially worse TTM free-cash-flow burn), partially offset by a strong low-debt balance sheet. Technicals are moderately positive with the stock trading above key moving averages and neutral momentum indicators. Valuation remains unattractive/unclear due to negative earnings and no dividend yield data.
Positive Factors
Large, high-quality resource
The Casino Project’s scale and porphyry copper-gold-molybdenum geology provide structural optionality: large deposits support multi-decade production, economies of scale, and make the asset attractive for strategic partners or project financing, underpinning long-term value potential.
Negative Factors
Pre-revenue operations
Being pre-revenue means no operating income to offset development costs; recurring net losses create structural dependence on external capital. Without revenue, the company lacks operating cashflow resilience and long-term profitability remains contingent on successful project delivery and financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Large, high-quality resource
The Casino Project’s scale and porphyry copper-gold-molybdenum geology provide structural optionality: large deposits support multi-decade production, economies of scale, and make the asset attractive for strategic partners or project financing, underpinning long-term value potential.
Read all positive factors
Western Copper (WRN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$861.90M
Dividend YieldN/A
Average Volume (3M)208.44K
Price to Earnings (P/E)―
Beta (1Y)2.06
Revenue GrowthN/A
EPS Growth20.78%
CountryCA
Employees15
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding225,628,680
10 Day Avg. Volume217,998
30 Day Avg. Volume208,439
Financial Highlights & Ratios
PEG Ratio4.10
Price to Book (P/B)3.81
Price to Sales (P/S)0.00
P/FCF Ratio-215.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$7.80Price Target Upside98.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.02
Revenue Forecast (FY)N/A
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 Ca...
How the Company Makes Money
null...
Western Copper Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
63
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -113.31K | -97.56K | -157.06K | -206.90K | -167.89K | -103.26K |
| EBITDA | -8.20M | -7.37M | -6.76M | -3.13M | -4.76M | -4.02M |
| Net Income | -5.02M | -3.12M | -6.92M | -3.34M | -5.06M | -3.14M |
Balance Sheet | ||||||
| Total Assets | 282.87M | 195.89M | 192.79M | 143.92M | 114.38M | 115.49M |
| Cash, Cash Equivalents and Short-Term Investments | 134.37M | 50.54M | 69.05M | 32.07M | 23.12M | 47.87M |
| Total Debt | 132.49K | 236.99K | 60.64K | 197.81K | 417.98K | 433.32K |
| Total Liabilities | 3.00M | 2.67M | 3.18M | 4.47M | 4.64M | 3.42M |
| Stockholders Equity | 279.86M | 193.22M | 189.61M | 139.44M | 109.74M | 112.07M |
Cash Flow | ||||||
| Free Cash Flow | -13.16M | -3.42M | -18.55M | -22.44M | -24.27M | -15.27M |
| Operating Cash Flow | -2.33M | -3.37M | -4.73M | -2.54M | -3.34M | -3.87M |
| Investing Cash Flow | -62.42M | 7.58M | -61.32M | -3.90M | -25.93M | -27.40M |
| Financing Cash Flow | 90.64M | 3.84M | 54.29M | 31.07M | -75.90K | 33.31M |
Western Copper Technical Analysis
Negative
3.94
Price Trends
3.78
Positive
4.12
Negative
3.40
Positive
Market Momentum
0.09
Negative
46.48
Neutral
45.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WRN, the sentiment is Negative. The current price of 3.94 is above the 20-day moving average (MA) of 3.93, above the 50-day MA of 3.78, and above the 200-day MA of 3.40, indicating a neutral trend. The MACD of 0.09 indicates Negative momentum. The RSI at 46.48 is Neutral, neither overbought nor oversold. The STOCH value of 45.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:WRN.
Western Copper Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | C$861.90M | -73.38 | -2.34% | ― | ― | 20.78% | |
49 Neutral | C$1.01B | -19.24 | -43.89% | ― | ― | 17.63% | |
47 Neutral | C$975.21M | -28.80 | -47.15% | ― | ― | -21.97% | |
43 Neutral | C$998.85M | -26.66 | -36.23% | ― | ― | -415.48% | |
43 Neutral | C$543.04M | -55.66 | -8.12% | ― | ― | -603.10% | |
41 Neutral | C$612.41M | -19.41 | -74.52% | ― | ― | -104.66% |
* Basic Materials Sector Average
TSE:WRN
Western Copper
3.62
2.04
129.11%
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Western Copper Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Western Copper and Gold Bolsters Balance Sheet and Technical Team as Casino Project Review Advances
Positive
Mar 26, 2026
Western Copper and Gold reported its 2025 annual results showing cash, cash equivalents and short-term investments of $50.5 million at year-end, after investing $21.6 million in exploration and evaluation to advance permitting and engineering at t...
Private Placements and FinancingRegulatory Filings and Compliance
Western Copper and Gold Files Final Prospectus for C$80 Million Bought Deal Offering
Positive
Feb 20, 2026
Western Copper and Gold has filed a final short form prospectus in Canada to support a bought deal public offering of common shares priced at C$4.15, seeking gross proceeds of about C$80 million, with an over-allotment option that could lift the t...
Business Operations and StrategyPrivate Placements and Financing
Western Copper and Gold Upsizes Bought Deal to Fund Yukon Casino Project
Positive
Feb 12, 2026
Western Copper and Gold has upsized its bought deal financing to roughly C$80 million, with underwriters led by Stifel Canada agreeing to purchase over 19.2 million common shares at C$4.15 each. An over-allotment option could lift total gross proc...
Business Operations and StrategyPrivate Placements and Financing
Western Copper and Gold Raises Up to C$57.5 Million to Advance Yukon Casino Project
Positive
Feb 12, 2026
Western Copper and Gold has launched a C$50 million bought-deal equity financing, selling just over 12 million common shares at C$4.15 each through a syndicate led by Stifel Canada. An over-allotment option could lift gross proceeds to about C$57....
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Western Copper and Gold to Raise Up to C$57.5 Million for Yukon Casino Project
Positive
Feb 12, 2026
Western Copper and Gold Corporation has launched a C$50 million bought deal financing with Stifel Canada and a syndicate of underwriters, issuing just over 12 million common shares at C$4.15 each, with an over-allotment option that could lift tota...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.