Western Copper (WRN) AI Stock Analysis

• Market Cap: C$903.19M
• Dividend Yield: N/A
• Average Volume (3M): 208.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.80
• 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$7.84
• Price Target Upside: 92.19% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: C$5.00 ▲(22.55% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained negative operating/free cash flow). This is partly offset by a strong, low-debt balance sheet and supportive technical momentum (price above key moving averages with positive MACD). Valuation provides limited support given the negative P/E and no dividend yield.

Positive Factors

Conservatively levered balance sheet

Very low debt and sizable equity give Western Copper lasting financial flexibility during a multi-year development cycle. Low leverage reduces default risk, improves ability to entertain JV or financing offers, and sustains project advancement while minimizing short-term creditor pressure.

Large, multi‑commodity Casino Project

The Casino Project's scale and multiple commodity exposures (copper, gold, molybdenum, silver) create structural optionality and appeal to strategic partners. A large, well‑endowed deposit underpins long-term value if de‑risked, making the asset attractive for JV, sale, or project financing.

Clear development/monetization pathway

A defined strategy—advance technical studies, permitting and then monetize via sale, JV or project financing—is a durable business model for juniors. It clarifies milestones, focuses capital deployment on value‑adding work, and aligns outcomes with potential partner or financier decision points.

Negative Factors

Pre‑revenue, persistent net losses

Being pre‑revenue means Western Copper has no operational cash inflows; continued operating losses erode equity and force dependence on external capital. Until the asset is monetized or a partner funds development, shareholders face ongoing dilution and execution risk tied to financing availability.

Consistent negative operating and free cash flow

Sustained cash burn requires repeated financings, which can dilute existing holders and delay project timelines. Large negative FCF constrains the firm's ability to self-fund critical permitting or studies, increasing reliance on market conditions or partner commitments to sustain progress.

Small team and reliance on capital markets

A lean 15‑person organization reduces fixed overhead but limits internal capacity to execute complex engineering, permitting and stakeholder engagement. Heavy dependence on equity raises dilution risk and ties project runway to capital market conditions and investor appetite rather than operating cash generation.

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

Overall fundamentals are weak: the company is pre-revenue with persistent net losses and consistently negative operating and free cash flow (notably deeply negative in 2024 and TTM), implying ongoing funding needs. This is partially offset by a conservatively levered balance sheet with very low debt relative to equity, reducing near-term financial leverage risk.

Income Statement

The company remains pre-revenue (revenue is $0 across all periods provided), with persistent operating losses. Net income stayed negative in every year, with losses widening in 2024 (annual net loss of about $6.9M) versus 2023 (about $3.3M), and improving somewhat in TTM (Trailing-Twelve-Months) to about $3.7M. Profitability is structurally weak given the lack of revenue base and ongoing operating expense burden.

Balance Sheet

The balance sheet is conservatively levered, with very low debt relative to equity (debt-to-equity roughly near zero in all periods, including TTM (Trailing-Twelve-Months)). Equity is sizable versus assets, providing financial flexibility. The key weakness is negative returns on equity in every period, reflecting ongoing losses despite the strong capitalization.

Cash Flow

Cash generation is weak: operating cash flow is consistently negative each year and in TTM (Trailing-Twelve-Months), indicating the business consumes cash to fund operations. Free cash flow is also deeply negative (notably about -$18.6M in 2024 and about -$23.6M in TTM (Trailing-Twelve-Months)), pointing to continued funding needs. While free cash flow showed periods of improvement versus prior years, the overall profile remains meaningfully cash-burning.

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: Negative
• Last Price: 4.08
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 4.08 is below the 20-day moving average (MA) of 4.82, below the 50-day MA of 4.12, and above the 200-day MA of 2.61, indicating a neutral trend. The MACD of 0.13 indicates Positive momentum. The RSI at 42.68 is Neutral, neither overbought nor oversold. The STOCH value of 24.16 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

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$558.81M	-59.62	-6.72%	―	―	-572.97%
TMQ	54 Neutral	C$1.20B	-78.26	-7.00%	―	―	7.70%
WRN	52 Neutral	C$903.19M	-217.02	-1.92%	―	―	41.98%
MNO	52 Neutral	C$728.42M	-18.66	-62.98%	―	―	-23.64%
NCX	51 Neutral	C$887.09M	-85.71	-31.51%	―	―	11.83%
UCU	49 Neutral	C$896.36M	-17.94	-75.16%	―	―	-58.77%

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.