Atalaya Mining (LON:ATYM) Shares Cross Above 50 Day Moving Average – Time to Sell?

Atalaya Mining Plc (LON:ATYM) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 863.75 and traded as high as GBX 943. Atalaya Mining shares last traded at GBX 939, with a volume of 46,980,082 shares.

Wall Street Analyst Weigh In

ATYM has been the topic of several recent research reports. Berenberg Bank restated a “buy” rating and set a GBX 1,180 target price on shares of Atalaya Mining in a report on Wednesday, August 12th. Royal Bank Of Canada increased their price target on Atalaya Mining from GBX 1,000 to GBX 1,100 and gave the company an “outperform” rating in a report on Monday, July 20th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 1,100 price objective on shares of Atalaya Mining in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 1,021.25.

Atalaya Mining Price Performance

The company has a debt-to-equity ratio of 4.44, a current ratio of 2.83 and a quick ratio of 1.64. The stock’s fifty day moving average is GBX 870.62 and its 200-day moving average is GBX 850.13. The stock has a market cap of £1.49 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of -2.02 and a beta of 1.49.

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.