Atalaya Mining (LON:ATYM) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Atalaya Mining Plc (LON:ATYM) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 368.53 ($4.74) and traded as low as GBX 364 ($4.69). Atalaya Mining shares last traded at GBX 381.50 ($4.91), with a volume of 15,077,294 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ATYM. Canaccord Genuity Group decreased their price objective on Atalaya Mining from GBX 555 ($7.15) to GBX 520 ($6.69) and set a “buy” rating for the company in a report on Wednesday, March 19th. Berenberg Bank reiterated a “hold” rating and set a GBX 420 ($5.41) price target on shares of Atalaya Mining in a research report on Tuesday, March 18th.

Atalaya Mining Trading Up 5.1 %

The company has a quick ratio of 1.64, a current ratio of 1.53 and a debt-to-equity ratio of 7.71. The company’s 50-day moving average is GBX 368.53 and its 200 day moving average is GBX 366.27. The company has a market cap of £650.18 million, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of -2.02 and a beta of 1.64.

Atalaya Mining Company Profile

Atalaya is a European copper producer that owns and operates the Proyecto Riotinto complex in southwest Spain. Atalaya’s shares trade on the London Stock Exchange’s Main Market under the symbol “ATYM”.

Atalaya’s operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a central processing hub for ore sourced from its wholly owned regional projects around Riotinto, such as Proyecto Masa Valverde and Proyecto Riotinto East.