Atalaya Mining (LON:ATYM) Hits New 1-Year High – Should You Buy?

Atalaya Mining Plc (LON:ATYM)’s stock price hit a new 52-week high on Thursday . The company traded as high as GBX 1,100 and last traded at GBX 1,100, with a volume of 825231 shares changing hands. The stock had previously closed at GBX 1,057.

Analysts Set New Price Targets

Several brokerages recently issued reports on ATYM. Royal Bank Of Canada upped their price target on shares of Atalaya Mining from GBX 1,000 to GBX 1,100 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Berenberg Bank restated a “buy” rating and issued a GBX 1,180 price objective on shares of Atalaya Mining in a research report on Wednesday, August 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 1,100 target price on shares of Atalaya Mining in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 1,021.25.

Atalaya Mining Price Performance

The stock has a 50-day simple moving average of GBX 879.37 and a 200 day simple moving average of GBX 850.28. The stock has a market capitalization of £1.69 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of -2.02 and a beta of 1.49. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.64 and a current ratio of 2.83.

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. 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.