Peel Hunt Reaffirms Buy Rating for Atalaya Mining (LON:ATYM)

Key Points

• Peel Hunt reaffirmed its “Buy” rating on Atalaya Mining and maintained a GBX 1,185 price target, implying 10.34% potential upside from the prior close.
• Analyst sentiment remains positive: four analysts rate the stock a Buy, giving Atalaya a consensus “Buy” rating and an average target price of GBX 1,141.25.
• Atalaya Mining opened at GBX 1,074, with a £1.65 billion market capitalization and a 52-week trading range of GBX 609.70 to GBX 1,133.02. The company operates the Proyecto Riotinto copper complex in Spain and is advancing additional regional projects.

Atalaya Mining (LON:ATYM - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Peel Hunt in a research note issued on Monday, Digital Look reports. They presently have a GBX 1,185 price target on the stock. Peel Hunt's target price indicates a potential upside of 10.34% from the stock's previous close.

A number of other equities analysts also recently issued reports on ATYM. Royal Bank Of Canada increased their price objective on shares of Atalaya Mining from GBX 1,000 to GBX 1,100 and gave the company an "outperform" rating in a research note on Monday, July 20th. Berenberg Bank reissued a "buy" rating and set a GBX 1,180 price objective on shares of Atalaya Mining in a report on Wednesday, August 12th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 1,100 price objective on shares of Atalaya Mining in a research note on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of GBX 1,141.25.

Atalaya Mining Stock Performance

Atalaya Mining stock opened at GBX 1,074 on Monday. The company has a 50 day moving average price of GBX 1,004.45 and a 200-day moving average price of GBX 875.92. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.64 and a current ratio of 2.83. Atalaya Mining has a fifty-two week low of GBX 609.70 and a fifty-two week high of GBX 1,133.02. The company has a market capitalization of £1.65 billion, a PE ratio of 15.23, a P/E/G ratio of -2.02 and a beta of 1.49.

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.

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