Atalaya Mining (LON:ATYM) Shares Pass Below 50-Day Moving Average – Time to Sell?

Atalaya Mining Plc (LON:ATYM) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 355.69 ($4.40) and traded as low as GBX 350.50 ($4.34). Atalaya Mining shares last traded at GBX 359 ($4.44), with a volume of 22,845 shares changing hands.

Analyst Upgrades and Downgrades

ATYM has been the topic of several research analyst reports. Berenberg Bank reduced their price objective on Atalaya Mining from GBX 480 ($5.94) to GBX 460 ($5.69) and set a “hold” rating on the stock in a research note on Monday, October 14th. Canaccord Genuity Group reduced their price target on shares of Atalaya Mining from GBX 585 ($7.24) to GBX 555 ($6.87) and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Atalaya Mining Price Performance

The company has a debt-to-equity ratio of 6.27, a current ratio of 1.65 and a quick ratio of 1.64. The company has a fifty day moving average price of GBX 355.68 and a 200 day moving average price of GBX 375.42. The company has a market capitalization of £513.77 million, a P/E ratio of 1,825.00, a price-to-earnings-growth ratio of -2.02 and a beta of 1.64.

Insider Activity at Atalaya Mining

In other news, insider Jesus Fernandez Lopez acquired 13,912 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were purchased at an average cost of GBX 350 ($4.33) per share, for a total transaction of £48,692 ($60,269.84). Insiders own 31.43% of the company’s stock.

Atalaya Mining Company Profile

Atalaya Mining Plc, together with its subsidiaries, engages in the mineral exploration and development in Spain. The company's flagship property is the Proyecto Riotinto mine, an open-pit copper mine located in the Andalusia region of Spain. It explores for copper concentrates, silver by-products, and gold.