Atalaya Mining (LON:ATYM) Stock Crosses Below 50-Day Moving Average – Here’s Why

Atalaya Mining Plc (LON:ATYM)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 954.98 and traded as low as GBX 883. Atalaya Mining shares last traded at GBX 890, with a volume of 244,370 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ATYM. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 830 target price on shares of Atalaya Mining in a research report on Thursday, November 13th. Berenberg Bank boosted their price target on shares of Atalaya Mining from GBX 930 to GBX 1,000 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada upped their price target on shares of Atalaya Mining from GBX 1,000 to GBX 1,075 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 705 price objective on shares of Atalaya Mining in a research report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Atalaya Mining currently has an average rating of “Buy” and an average price target of GBX 902.50.

Atalaya Mining Price Performance

The firm has a market capitalization of £1.37 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of -2.02 and a beta of 1.35. The firm has a 50 day moving average price of GBX 954.98 and a 200-day moving average price of GBX 765.96. The company has a current ratio of 1.75, a quick ratio of 1.64 and a debt-to-equity ratio of 4.75.

About Atalaya Mining

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. In addition, Atalaya has a phased earn-in agreement for up to 80% ownership of Cobre San Rafael S.L., which fully owns the Proyecto Touro brownfield copper project in the northwest of Spain, as well as a 99.9% interest in Proyecto Ossa Morena.