Atalaya Mining (LON:ATYM) Price Target Raised to GBX 620

Key Points

• Atalaya Mining's target price was raised by Berenberg Bank from GBX 510 to GBX 620, indicating a potential downside of 4.91% from the previous close.
• Canaccord Genuity Group lowered their price target from GBX 590 to GBX 580 but maintains a "buy" rating, while the consensus rating for the stock remains a "Moderate Buy" with a target of GBX 585.
• Insider Jesus Fernandez Lopez sold 70,000 shares at an average price of GBX 620, highlighting significant insider activity with 31.43% of the stock owned by insiders.

Atalaya Mining (LON:ATYM - Get Free Report) had its target price raised by investment analysts at Berenberg Bank from GBX 510 to GBX 620 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a "hold" rating on the stock. Berenberg Bank's target price points to a potential downside of 4.91% from the company's previous close.

Separately, Canaccord Genuity Group dropped their price objective on shares of Atalaya Mining from GBX 590 to GBX 580 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 585.

Atalaya Mining Stock Performance

Shares of LON ATYM traded down GBX 2 during mid-day trading on Tuesday, reaching GBX 652. 1,207,529 shares of the company were exchanged, compared to its average volume of 604,369. The company's 50-day simple moving average is GBX 539.30 and its 200-day simple moving average is GBX 457.36. The company has a quick ratio of 1.64, a current ratio of 1.53 and a debt-to-equity ratio of 7.71. The stock has a market capitalization of £917.75 million, a P/E ratio of 1,275.93, a P/E/G ratio of -2.02 and a beta of 1.64. Atalaya Mining has a twelve month low of GBX 275.29 and a twelve month high of GBX 667.

Insiders Place Their Bets

In other Atalaya Mining news, insider Jesus Fernandez Lopez sold 70,000 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of GBX 620, for a total transaction of £434,000. 31.43% of the stock is owned by insiders.

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.

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