Atalaya Mining (LON:ATYM) Trading Down 8.7% – Here’s What Happened

Atalaya Mining Plc (LON:ATYM) shares fell 8.7% on Wednesday . The stock traded as low as GBX 936 and last traded at GBX 938.72. 12,568,519 shares traded hands during trading, an increase of 331% from the average session volume of 2,918,063 shares. The stock had previously closed at GBX 1,028.

Wall Street Analysts Forecast Growth

ATYM has been the subject of several recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 830 target price on shares of Atalaya Mining in a report on Thursday, November 13th. Berenberg Bank boosted their price objective on Atalaya Mining from GBX 930 to GBX 1,000 and gave the company a “buy” rating in a research report on Wednesday, January 14th. 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 research report on Thursday, January 22nd. Finally, Peel Hunt reissued a “buy” rating and set a GBX 705 target price on shares of Atalaya Mining in a research note on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of GBX 902.50.

Atalaya Mining Stock Down 8.2%

The company has a market capitalization of £1.33 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of -2.02 and a beta of 1.64. The stock’s fifty day simple moving average is GBX 859.01 and its two-hundred day simple moving average is GBX 680.35. The company has a debt-to-equity ratio of 7.71, a quick ratio of 1.64 and a current ratio of 1.53.

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.