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

Shares of Atalaya Mining Plc (LON:ATYM) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 811.25 and traded as high as GBX 822.50. Atalaya Mining shares last traded at GBX 813, with a volume of 630,017 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 1,090 target price on shares of Atalaya Mining in a research note on Tuesday, May 26th. Berenberg Bank boosted their price target on shares of Atalaya Mining from GBX 950 to GBX 980 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada dropped their price objective 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 note on Thursday, April 16th. Three equities 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 currently has a consensus rating of “Moderate Buy” and an average price target of GBX 962.50.

Atalaya Mining Price Performance

The stock has a market cap of £1.25 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of -2.02 and a beta of 1.50. The stock’s fifty day moving average is GBX 811.25 and its 200-day moving average is GBX 852.02. The company has a debt-to-equity ratio of 2.31, a current ratio of 3.20 and a quick ratio 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.