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

Atalaya Mining Plc (LON:ATYM)’s stock price crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of GBX 1,005.18 and traded as low as GBX 797.50. Atalaya Mining shares last traded at GBX 803.50, with a volume of 20,751,549 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ATYM shares. Royal Bank Of Canada boosted their target price on shares of Atalaya Mining from GBX 1,000 to GBX 1,100 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,260 price target on shares of Atalaya Mining in a research note on Friday, October 16th. Peel Hunt reissued a “buy” rating and set a GBX 1,185 price objective on shares of Atalaya Mining in a report on Monday, October 12th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a GBX 1,100 price objective on shares of Atalaya Mining in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 1,161.25.

Atalaya Mining Price Performance

The company has a 50 day moving average price of GBX 1,005.18 and a 200-day moving average price of GBX 891.19. The company has a market cap of £1.24 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of -2.02 and a beta of 1.49. The company has a quick ratio of 1.64, a current ratio of 2.83 and a debt-to-equity ratio of 4.44.

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. 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.