Atalaya Mining (LON:ATYM) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Atalaya Mining Plc (LON:ATYM)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 847.91 and traded as low as GBX 847.50. Atalaya Mining shares last traded at GBX 850, with a volume of 2,050,682 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on ATYM shares. Royal Bank Of Canada decreased their target price on shares of Atalaya Mining from GBX 1,125 to GBX 1,075 and set a “sector perform” rating for the company in a research report on Thursday, April 16th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 1,090 price target on shares of Atalaya Mining in a report on Tuesday, May 26th. Finally, Berenberg Bank boosted their price objective on Atalaya Mining from GBX 950 to GBX 980 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 962.50.

Atalaya Mining Stock Down 3.4%

The firm has a market cap of £1.31 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of -2.02 and a beta of 1.50. The firm’s fifty day moving average is GBX 809.25 and its two-hundred day moving average is GBX 847.91. The company has a debt-to-equity ratio of 2.31, a current ratio of 3.20 and a quick ratio 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. 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.