Atalaya Mining (LON:ATYM) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Atalaya Mining Plc (LON:ATYM) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 362.25 ($4.74) and traded as low as GBX 317 ($4.15). Atalaya Mining shares last traded at GBX 321 ($4.20), with a volume of 6,243,817 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ATYM. Canaccord Genuity Group lowered their target price on Atalaya Mining from GBX 555 ($7.26) to GBX 520 ($6.81) and set a “buy” rating for the company in a research note on Wednesday, March 19th. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 420 ($5.50) target price on shares of Atalaya Mining in a report on Tuesday, March 18th.

Atalaya Mining Trading Up 1.7 %

The firm has a market capitalization of £553.04 million, a price-to-earnings ratio of 20.11, a PEG ratio of -2.02 and a beta of 1.64. The company has a debt-to-equity ratio of 7.71, a quick ratio of 1.64 and a current ratio of 1.53. The company has a 50-day moving average price of GBX 361.79 and a 200-day moving average price of GBX 362.23.

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.