Atalaya Mining (LON:ATYM) Shares Cross Below Fifty 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 841.24 and traded as low as GBX 758.58. Atalaya Mining shares last traded at GBX 779, with a volume of 797,292 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Berenberg Bank reissued a “buy” rating and issued a GBX 950 target price on shares of Atalaya Mining in a research note on Wednesday, April 15th. Royal Bank Of Canada cut their price target on Atalaya Mining from GBX 1,125 to GBX 1,075 and set a “sector perform” rating on the stock in a research note on Thursday, April 16th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 1,090 price target on shares of Atalaya Mining in a report on Thursday, March 19th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 955.

Atalaya Mining Stock Down 2.1%

The firm’s 50-day simple moving average is GBX 841.24 and its 200 day simple moving average is GBX 807.15. The company has a debt-to-equity ratio of 8.28, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market cap of £1.17 billion, a P/E ratio of 13.09, a PEG ratio of -2.02 and a beta of 1.52.

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.