Atalaya Mining (LON:ATYM) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

Atalaya Mining Plc (LON:ATYM)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 362.25 ($4.74) and traded as low as GBX 317 ($4.15). Atalaya Mining shares last traded at GBX 321 ($4.20), with a volume of 6,243,817 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Canaccord Genuity Group cut their target price on Atalaya Mining from GBX 555 ($7.26) to GBX 520 ($6.81) and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Berenberg Bank reissued a “hold” rating and issued a GBX 420 ($5.50) price objective on shares of Atalaya Mining in a report on Tuesday, March 18th.

Atalaya Mining Stock Up 1.7 %

The company has a debt-to-equity ratio of 7.71, a quick ratio of 1.64 and a current ratio of 1.53. The business’s 50 day moving average is GBX 361.79 and its 200-day moving average is GBX 362.23. The stock has a market cap of £553.04 million, a price-to-earnings ratio of 20.11, a PEG ratio of -2.02 and a beta of 1.64.

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.