Atalaya Mining (LON:ATYM) Shares Down 8.7% – Here’s What Happened

Atalaya Mining Plc (LON:ATYM) dropped 8.7% during mid-day trading on Wednesday . The stock traded as low as GBX 936 and last traded at GBX 938.72. Approximately 12,568,519 shares changed hands during trading, an increase of 331% from the average daily volume of 2,918,063 shares. The stock had previously closed at GBX 1,028.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ATYM shares. Peel Hunt restated a “buy” rating and issued a GBX 705 target price on shares of Atalaya Mining in a report on Thursday, November 13th. Royal Bank Of Canada boosted their price objective on Atalaya Mining from GBX 1,000 to GBX 1,075 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Berenberg Bank lifted their target price on Atalaya Mining from GBX 930 to GBX 1,000 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a GBX 830 target price on shares of Atalaya Mining in a research note on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 902.50.

Atalaya Mining Stock Down 0.5%

The company has a current ratio of 1.53, a quick ratio of 1.64 and a debt-to-equity ratio of 7.71. The firm has a market cap of £1.42 billion, a PE ratio of 16.26, a P/E/G ratio of -2.02 and a beta of 1.64. The business’s 50-day simple moving average is GBX 873.45 and its 200 day simple moving average is GBX 687.17.

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.