Atalaya Mining (LON:ATYM) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of Atalaya Mining Plc (LON:ATYM) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 783.92 and traded as high as GBX 809.50. Atalaya Mining shares last traded at GBX 780.04, with a volume of 26,272,797 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ATYM shares. Berenberg Bank restated a “buy” rating and set a GBX 950 price target on shares of Atalaya Mining in a research note on Wednesday, April 15th. Royal Bank Of Canada decreased their price target on shares of Atalaya Mining from GBX 1,125 to GBX 1,075 and set a “sector perform” rating for the company in a research note on Thursday, April 16th. Finally, Canaccord Genuity Group restated a “buy” rating and set a GBX 1,090 price target on shares of Atalaya Mining in a research note on Thursday, March 19th. Three equities 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.com, Atalaya Mining presently has an average rating of “Moderate Buy” and an average price target of GBX 955.

Atalaya Mining Stock Performance

The company’s fifty day moving average is GBX 783.92 and its 200 day moving average is GBX 825.45. The company has a market capitalization of £1.20 billion, a P/E ratio of 13.37, a P/E/G ratio of -2.02 and a beta of 1.49. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 8.28.

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.