Atalaya Mining (LON:ATYM) Reaches New 12-Month High - Still a Buy?

Key Points

• Atalaya Mining's share price reached a new 52-week high of GBX 547 ($7.35) amid significant trading volume.
• Analysts have mixed opinions, with Berenberg Bank maintaining a "hold" rating and Canaccord Genuity lowering their price target while still issuing a "buy" rating.
• The company, known for its copper production in Spain, holds a market capitalization of £763.49 million and operates a significant processing plant at Proyecto Riotinto.

Shares of Atalaya Mining Plc (LON:ATYM - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as GBX 547 ($7.38) and last traded at GBX 542.54 ($7.32), with a volume of 4919545 shares changing hands. The stock had previously closed at GBX 537 ($7.24).

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ATYM shares. Berenberg Bank restated a "hold" rating and set a GBX 510 target price on shares of Atalaya Mining in a report on Tuesday, August 12th. Canaccord Genuity Group dropped their target price on Atalaya Mining from GBX 590 to GBX 580 and set a "buy" rating for the company in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of GBX 548.33.

Atalaya Mining Trading Up 0.7%

The stock has a market capitalization of £761.51 million, a P/E ratio of 1,058.71, a price-to-earnings-growth ratio of -2.02 and a beta of 1.64. The stock has a 50-day moving average price of GBX 488.04 and a two-hundred day moving average price of GBX 424.67. The company has a debt-to-equity ratio of 7.71, a quick ratio of 1.64 and a current ratio of 1.53.

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.