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Western Copper
(TSX:WRN)
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Rating:51Neutral
Price Target:
C$3.50
▼(-3.05% Downside)
Action:Reiterated
Date:08/19/26
The score is driven primarily by weak operating performance (no revenue, ongoing losses, and negative free cash flow) partially offset by a very strong, low-debt balance sheet. Technicals add a small lift due to improving short-term momentum, while valuation remains pressured because profitability is negative and no dividend yield is available.
Positive Factors
Very Low Leverage
Debt-to-equity of ~0.003 and equity of ~$279.7M against ~$284.9M of assets give the company substantial financial flexibility. Low leverage limits balance-sheet risk and reduces pressure from debt service while the project advances.
Negative Factors
No Operating Revenue
The absence of producing-mine revenue means the company has no recurring operating sales to fund development. It remains dependent on financing, partnerships, asset monetization or eventual Casino production to establish a sustainable revenue base.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Debt-to-equity of ~0.003 and equity of ~$279.7M against ~$284.9M of assets give the company substantial financial flexibility. Low leverage limits balance-sheet risk and reduces pressure from debt service while the project advances.
Read all positive factors
Western Copper (WRN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$750.90M
Dividend YieldN/A
Average Volume (3M)258.71K
Price to Earnings (P/E)―
Beta (1Y)2.23
Revenue GrowthN/A
EPS Growth-60.67%
CountryCA
Employees16
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding226,175,430
10 Day Avg. Volume279,041
30 Day Avg. Volume258,710
Financial Highlights & Ratios
PEG Ratio4.08
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$7.96Price Target Upside120.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)N/A
Western Copper Business Overview & Revenue Model
Company Description
Western Copper and Gold Corporation is a Canadian company operating in the exploration stage, dedicated to the discovery and advancement of mineral properties. Its primary focus involves identifying deposits rich in gold, copper, silver, and molyb...
How the Company Makes Money
Western Copper and Gold does not operate a producing mine and, as a result, it does not generate recurring revenue from the sale of copper, gold, or other metals at this stage. Its economic model is centered on increasing the value of the Casino P...
Western Copper Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
23
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 | -178.65K | -97.56K | -157.06K | -206.90K | -167.89K | -103.26K |
| EBITDA | -8.72M | -7.37M | -6.76M | -3.13M | -4.76M | -4.02M |
| Net Income | -6.07M | -3.12M | -6.92M | -3.34M | -5.06M | -3.14M |
Balance Sheet | ||||||
| Total Assets | 284.92M | 195.89M | 192.79M | 143.92M | 114.38M | 115.49M |
| Cash, Cash Equivalents and Short-Term Investments | 128.65M | 50.54M | 69.05M | 32.07M | 23.12M | 47.87M |
| Total Debt | 747.24K | 236.99K | 60.64K | 197.81K | 417.98K | 433.32K |
| Total Liabilities | 5.22M | 2.67M | 3.18M | 4.47M | 4.64M | 3.42M |
| Stockholders Equity | 279.69M | 193.22M | 189.61M | 139.44M | 109.74M | 112.07M |
Cash Flow | ||||||
| Free Cash Flow | -13.58M | -3.42M | -18.55M | -22.44M | -24.27M | -15.27M |
| Operating Cash Flow | -2.42M | -3.37M | -4.73M | -2.54M | -3.34M | -3.87M |
| Investing Cash Flow | -47.49M | 7.58M | -61.32M | -3.90M | -25.93M | -27.40M |
| Financing Cash Flow | 90.15M | 3.84M | 54.29M | 31.07M | -75.90K | 33.31M |
Western Copper Technical Analysis
Negative
3.61
Price Trends
3.24
Positive
3.48
Negative
3.75
Negative
Market Momentum
0.03
Positive
47.85
Neutral
49.82
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 3.61 is above the 20-day moving average (MA) of 3.42, above the 50-day MA of 3.24, and below the 200-day MA of 3.75, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 47.85 is Neutral, neither overbought nor oversold. The STOCH value of 49.82 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% | |
58 Neutral | C$552.62M | -44.04 | -7.84% | ― | ― | -5566.67% | |
53 Neutral | C$1.41B | -52.06 | -27.24% | ― | ― | -97.05% | |
51 Neutral | C$750.90M | -116.78 | -2.57% | ― | ― | -60.67% | |
46 Neutral | C$906.23M | -23.44 | -43.89% | ― | ― | 8.75% | |
45 Neutral | C$796.36M | -11.03 | -40.69% | ― | ― | -431.79% | |
41 Neutral | C$371.22M | -5.84 | -67.67% | ― | ― | -138.33% |
* Basic Materials Sector Average
TSE:WRN
Western Copper
3.34
1.04
45.22%
TSE:TMQ
Trilogy Metals
4.55
1.62
55.29%
TSE:MNO
Meridian Mining SE
1.87
0.85
83.33%
TSE:NCX
NorthIsle Copper and Gold
4.17
2.57
160.62%
TSE:UCU
Ucore Rare Metals
2.52
-0.98
-28.00%
TSE:ALDE
Aldebaran Resources Inc
2.99
0.50
20.08%
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.