Atalaya Mining (LON:ATYM) Shares Pass Below 50-Day Moving Average - Time to Sell?

Key Points

• Atalaya Mining's stock has fallen below its 50-day moving average of GBX 458.39 ($6.08), trading recently at GBX 450 ($5.97) as of Friday.
• Analysts have updated their price targets for Atalaya Mining, with Berenberg Bank increasing it to GBX 510 ($6.77) while Canaccord Genuity raised it to GBX 590 ($7.83), assigning a "buy" rating.
• The company has a market cap of £766.92 million and is recognized as a significant European copper producer operating the Proyecto Riotinto complex in southwest Spain.

Atalaya Mining Plc (LON:ATYM - Get Free Report) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 458.39 ($6.09) and traded as low as GBX 446 ($5.93). Atalaya Mining shares last traded at GBX 450 ($5.98), with a volume of 327,199 shares.

Analyst Ratings Changes

Several equities research analysts recently commented on ATYM shares. Berenberg Bank boosted their price target on shares of Atalaya Mining from GBX 500 ($6.65) to GBX 510 ($6.78) and gave the stock a "hold" rating in a report on Tuesday, July 15th. Canaccord Genuity Group boosted their price target on shares of Atalaya Mining from GBX 525 ($6.98) to GBX 590 ($7.84) and gave the stock a "buy" rating in a report on Tuesday, July 15th.

Atalaya Mining Trading Up 1.2%

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 business has a fifty day simple moving average of GBX 460.01 and a 200 day simple moving average of GBX 401.29. The company has a market cap of £772.89 million, a price-to-earnings ratio of 28.11, a P/E/G ratio of -2.02 and a beta of 1.64.

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.