Atalaya Mining (LON:ATYM) Stock Passes Below 50 Day Moving Average - Here's What Happened

Key Points

• Atalaya's stock fell below its 50-day moving average, trading as low as GBX 682 and last at GBX 686.93 versus the 50-day MA of GBX 916.75, on a volume of 401,076 shares.
• Analysts maintain an average "Buy" rating (four buy ratings) with an average target of GBX 1,020 and recent targets ranging roughly from GBX 1,075 to GBX 1,210.
• Fundamentals show a market cap of £1.06 billion and a P/E of 12.17 (debt-to-equity 8.28); Atalaya is a European copper producer operating the Proyecto Riotinto complex in southwest Spain.

Atalaya Mining Plc (LON:ATYM - Get Free Report)'s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 916.75 and traded as low as GBX 682. Atalaya Mining shares last traded at GBX 686.93, with a volume of 401,076 shares traded.

Wall Street Analyst Weigh In

ATYM has been the topic of a number of recent research reports. Royal Bank Of Canada increased their target price on Atalaya Mining from GBX 1,000 to GBX 1,075 and gave the stock an "outperform" rating in a report on Thursday, January 22nd. Canaccord Genuity Group restated a "buy" rating and set a GBX 1,090 price target on shares of Atalaya Mining in a research note on Thursday, March 19th. Finally, Berenberg Bank lowered their price objective on shares of Atalaya Mining from GBX 1,270 to GBX 1,210 and set a "buy" rating on the stock in a report on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of GBX 1,020.

Atalaya Mining Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 8.28. The business has a fifty day simple moving average of GBX 916.75 and a 200 day simple moving average of GBX 787.16. The stock has a market capitalization of £1.06 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of -2.02 and a beta of 1.35.

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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