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

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 908.85 and traded as high as GBX 1,061. Atalaya Mining shares last traded at GBX 1,044.90, with a volume of 365,573 shares traded.

Analyst Upgrades and Downgrades

ATYM has been the subject of several research analyst reports. Royal Bank Of Canada raised their target price on Atalaya Mining from GBX 1,000 to GBX 1,100 and gave the company an “outperform” rating in a research report on Monday, July 20th. Canaccord Genuity Group restated a “buy” rating and set a GBX 1,100 price target on shares of Atalaya Mining in a research report on Tuesday, August 11th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 1,180 price objective on shares of Atalaya Mining in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Atalaya Mining presently has an average rating of “Buy” and a consensus price target of GBX 1,021.25.

Atalaya Mining Stock Performance

The company has a debt-to-equity ratio of 4.44, a current ratio of 2.83 and a quick ratio of 1.64. The company has a 50 day simple moving average of GBX 913.46 and a 200-day simple moving average of GBX 857.43. The stock has a market capitalization of £1.61 billion, a P/E ratio of 18.76, a price-to-earnings-growth 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.