Canaccord Genuity Group Forecasts Strong Price Appreciation for Atalaya Mining (LON:ATYM) Stock

Atalaya Mining (LON:ATYM) had its price target increased by analysts at Canaccord Genuity Group from GBX 520 ($6.86) to GBX 525 ($6.92) in a report issued on Tuesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 40.94% from the stock’s current price.

Separately, Berenberg Bank reissued a “hold” rating and issued a GBX 420 ($5.54) price target on shares of Atalaya Mining in a research note on Tuesday, March 18th.

Atalaya Mining Price Performance

Shares of Atalaya Mining stock traded up GBX 39.50 ($0.52) during midday trading on Tuesday, hitting GBX 372.50 ($4.91). 276,312 shares of the company traded hands, compared to its average volume of 431,601. The stock has a market cap of £634.84 million, a price-to-earnings ratio of 23.09, 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 firm’s fifty day moving average price is GBX 361.29 and its 200-day moving average price is GBX 361.35. Atalaya Mining has a 12 month low of GBX 275.29 ($3.63) and a 12 month high of GBX 493.50 ($6.51).

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.