Atalaya Mining (LON:ATYM) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Atalaya Mining Plc (LON:ATYM) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 859.01 and traded as high as GBX 1,028. Atalaya Mining shares last traded at GBX 1,028, with a volume of 1,128,771 shares changing hands.

Analysts Set New Price Targets

A number of research firms have weighed in on ATYM. Berenberg Bank lifted their price objective on shares of Atalaya Mining from GBX 930 to GBX 1,000 and gave the company a “buy” rating in a report on Wednesday, January 14th. Canaccord Genuity Group restated a “buy” rating and set a GBX 830 target price on shares of Atalaya Mining in a research report on Thursday, November 13th. Peel Hunt restated a “buy” rating and issued a GBX 705 price target on shares of Atalaya Mining in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada increased their price target on Atalaya Mining from GBX 1,000 to GBX 1,075 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 902.50.

Atalaya Mining Stock Performance

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 stock’s fifty day simple moving average is GBX 859.01 and its 200 day simple moving average is GBX 680.35. The company has a market cap of £1.33 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of -2.02 and a beta of 1.64.

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.