Atalaya Mining (LON:ATYM) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Atalaya Mining Plc (LON:ATYM)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 847.91 and traded as low as GBX 847.50. Atalaya Mining shares last traded at GBX 850, with a volume of 2,050,682 shares.

Analysts Set New Price Targets

Several research firms have recently commented on ATYM. Berenberg Bank lifted their price target on shares of Atalaya Mining from GBX 950 to GBX 980 and gave the company a “buy” rating in a report on Wednesday, May 27th. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 1,090 price objective on shares of Atalaya Mining in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada cut their target price on shares of Atalaya Mining from GBX 1,125 to GBX 1,075 and set a “sector perform” rating on the stock in a report on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 962.50.

Atalaya Mining Stock Performance

The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.64 and a current ratio of 3.20. The stock has a 50 day moving average of GBX 809.25 and a 200 day moving average of GBX 847.91. The stock has a market capitalization of £1.31 billion, a P/E ratio of 15.23, a P/E/G ratio of -2.02 and a beta of 1.50.

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.