Atalaya Mining (LON:ATYM) Stock Price Passes Below 50 Day Moving Average - Time to Sell?

Key Points

• Price breach: Atalaya's shares fell below their 50‑day moving average (GBX 841.24), trading as low as GBX 758.58 and last at GBX 779 on volume 797,292, which is also below the 200‑day MA (GBX 807.15).
• Analyst stance: The consensus is a "Moderate Buy" (three Buys, one Hold) with a consensus price target of GBX 955; notable targets include Canaccord GBX 1,090, Berenberg GBX 950 and RBC GBX 1,075.
• Company fundamentals and operations: Atalaya is a European copper producer with a market cap of £1.17bn, a P/E of 13.09, P/E/G of -2.02 and a high debt‑to‑equity ratio of 8.28, operating the Proyecto Riotinto complex in Spain.

Atalaya Mining Plc (LON:ATYM - Get Free Report)'s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 841.24 and traded as low as GBX 758.58. Atalaya Mining shares last traded at GBX 779, with a volume of 797,292 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ATYM. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 1,090 price objective on shares of Atalaya Mining in a report on Thursday, March 19th. Royal Bank Of Canada reduced their target price on Atalaya Mining from GBX 1,125 to GBX 1,075 and set a "sector perform" rating on the stock in a report on Thursday, April 16th. Finally, Berenberg Bank restated a "buy" rating and set a GBX 950 price target on shares of Atalaya Mining in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 955.

Atalaya Mining Stock Performance

The company has a market capitalization of £1.17 billion, a P/E ratio of 13.09, a P/E/G ratio of -2.02 and a beta of 1.52. The company has a debt-to-equity ratio of 8.28, a current ratio of 1.64 and a quick ratio of 1.64. The stock's 50 day simple moving average is GBX 841.24 and its two-hundred day simple moving average is GBX 807.15.

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. 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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