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

Atalaya Mining Plc (LON:ATYM) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 954.98 and traded as low as GBX 883. Atalaya Mining shares last traded at GBX 890, with a volume of 244,370 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ATYM. Berenberg Bank lifted their price target on shares of 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 raised their target price on shares of Atalaya Mining from GBX 1,000 to GBX 1,075 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of GBX 902.50.

Atalaya Mining Price Performance

The business’s 50 day moving average price is GBX 954.92 and its 200-day moving average price is GBX 768.22. The company has a quick ratio of 1.64, a current ratio of 1.75 and a debt-to-equity ratio of 4.75. The company has a market cap of £1.30 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of -2.02 and a beta of 1.35.

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.