Atalaya Mining (LON:ATYM) Shares Pass Below Fifty Day Moving Average - Time to Sell?

Atalaya Mining Plc (LON:ATYM - Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 368.53 ($4.77) and traded as low as GBX 364 ($4.71). Atalaya Mining shares last traded at GBX 381.50 ($4.94), with a volume of 15,077,294 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ATYM shares. Berenberg Bank restated a "hold" rating and set a GBX 420 ($5.44) price target on shares of Atalaya Mining in a research note on Tuesday, March 18th. Canaccord Genuity Group lowered their price objective on Atalaya Mining from GBX 555 ($7.18) to GBX 520 ($6.73) and set a "buy" rating on the stock in a research report on Wednesday, March 19th.

Atalaya Mining Price Performance

The stock has a market cap of £617.80 million, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of -2.02 and a beta of 1.64. The company has a quick ratio of 1.64, a current ratio of 1.53 and a debt-to-equity ratio of 7.71. The company's 50-day moving average is GBX 368.88 and its 200-day moving average is GBX 366.56.

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.