Atalaya Mining (LON:ATYM) Share Price Passes Below 50-Day Moving Average - Here's Why

Atalaya Mining Plc (LON:ATYM - Get Free Report)'s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 362.25 ($4.79) and traded as low as GBX 317 ($4.20). Atalaya Mining shares last traded at GBX 321 ($4.25), with a volume of 6,243,817 shares changing hands.

Wall Street Analyst Weigh In

ATYM has been the subject of a number of analyst reports. Berenberg Bank reiterated a "hold" rating and set a GBX 420 ($5.56) price objective on shares of Atalaya Mining in a report on Tuesday, March 18th. Canaccord Genuity Group boosted their price objective on Atalaya Mining from GBX 520 ($6.88) to GBX 525 ($6.95) and gave the stock a "buy" rating in a report on Tuesday.

Atalaya Mining Stock Up 1.4 %

The stock's fifty day simple moving average is GBX 360.98 and its 200-day simple moving average is GBX 361.38. The stock has a market capitalization of £633.14 million, a PE ratio of 23.03, a P/E/G ratio of -2.02 and a beta of 1.64. The company has a current ratio of 1.53, a quick ratio of 1.64 and a debt-to-equity ratio of 7.71.

Atalaya Mining Company Profile

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.