Atalaya Mining's (ATYM) Buy Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Atalaya Mining has had its "buy" rating reaffirmed by Canaccord Genuity Group, with a price objective of GBX 580, indicating a potential downside of 8.08% from the current stock price.
• Berenberg Bank raised its price target on Atalaya Mining shares from GBX 510 to GBX 620, while maintaining a "hold" rating.
• Insider Jesus Fernandez Lopez sold 70,000 shares at an average price of GBX 620, totaling £434,000, illustrating active insider trading in the company.

Atalaya Mining (LON:ATYM - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Canaccord Genuity Group in a report issued on Tuesday, MarketBeat.com reports. They presently have a GBX 580 price objective on the stock. Canaccord Genuity Group's target price suggests a potential downside of 8.08% from the company's current price.

Separately, Berenberg Bank increased their price target on shares of Atalaya Mining from GBX 510 to GBX 620 and gave the company a "hold" rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Atalaya Mining currently has an average rating of "Moderate Buy" and an average price target of GBX 585.

Atalaya Mining Price Performance

LON ATYM opened at GBX 631 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.64 and a debt-to-equity ratio of 7.71. The company has a fifty day simple moving average of GBX 575.69 and a 200 day simple moving average of GBX 477.95. The company has a market cap of £888.19 million, a P/E ratio of 12.35, a P/E/G ratio of -2.02 and a beta of 1.64. Atalaya Mining has a 1 year low of GBX 275.29 and a 1 year high of GBX 682.

Insider Activity at Atalaya Mining

In other news, insider Jesus Fernandez Lopez sold 70,000 shares of the firm's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of GBX 620, for a total transaction of £434,000. Insiders own 31.43% of the company's stock.

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.

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