Berenberg Bank Forecasts Strong Price Appreciation for Atalaya Mining (LON:ATYM) Stock

Atalaya Mining (LON:ATYM) had its price target upped by stock analysts at Berenberg Bank from GBX 950 to GBX 980 in a research report issued on Wednesday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price objective points to a potential upside of 18.43% from the company’s previous close.

Several other research firms have also recently issued reports on ATYM. Royal Bank Of Canada decreased their price objective on shares of Atalaya Mining from GBX 1,125 to GBX 1,075 and set a “sector perform” rating for the company in a report on Thursday, April 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 1,090 price objective on shares of Atalaya Mining in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 962.50.

Atalaya Mining Trading Up 1.4%

Atalaya Mining stock opened at GBX 827.50 on Wednesday. The firm has a 50 day simple moving average of GBX 774.01 and a 200-day simple moving average of GBX 829.66. The company has a debt-to-equity ratio of 8.28, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of £1.27 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of -2.02 and a beta of 1.49. Atalaya Mining has a 12-month low of GBX 395 and a 12-month high of GBX 1,094.

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.