Atalaya Mining (LON:ATYM) Stock Passes Below Fifty Day Moving Average – Here’s Why

Shares of Atalaya Mining Plc (LON:ATYM) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 368.53 ($4.74) and traded as low as GBX 364 ($4.69). Atalaya Mining shares last traded at GBX 381.50 ($4.91), with a volume of 15,077,294 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ATYM shares. Berenberg Bank restated a “hold” rating and set a GBX 420 ($5.41) price objective on shares of Atalaya Mining in a report on Tuesday, March 18th. Canaccord Genuity Group decreased their price target on shares of Atalaya Mining from GBX 555 ($7.15) to GBX 520 ($6.69) and set a “buy” rating for the company in a report on Wednesday, March 19th.

Atalaya Mining Stock Up 5.1 %

The firm has a market capitalization of £650.18 million, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of -2.02 and a beta of 1.64. The company has a debt-to-equity ratio of 7.71, a current ratio of 1.53 and a quick ratio of 1.64. The business has a fifty day moving average price of GBX 368.53 and a two-hundred day moving average price of GBX 366.27.

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.