Atalaya Mining (LON:ATYM) Stock Breaks Above 50 Day Moving Average – Time to Sell?

Shares of Atalaya Mining Plc (LON:ATYM) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of GBX 987.12 and traded as high as GBX 1,083. Atalaya Mining shares last traded at GBX 1,038, with a volume of 27,481,268 shares.

Analyst Ratings Changes

Several equities analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a GBX 1,100 price objective on shares of Atalaya Mining in a research report on Tuesday, August 11th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,180 target price on shares of Atalaya Mining in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada upped 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 report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 1,021.25.

Atalaya Mining Stock Performance

The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.64 and a current ratio of 2.83. The business has a 50-day moving average price of GBX 989.88 and a 200 day moving average price of GBX 865.71. The stock has a market capitalization of £1.60 billion, a P/E ratio of 14.79, a PEG ratio of -2.02 and a beta of 1.49.

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.