Atalaya Mining (LON:ATYM) Stock Passes Below 50-Day Moving Average – Time to Sell?

Atalaya Mining Plc (LON:ATYM) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 355.69 ($4.45) and traded as low as GBX 350.50 ($4.39). Atalaya Mining shares last traded at GBX 359 ($4.49), with a volume of 22,845 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ATYM shares. Berenberg Bank cut their price target on Atalaya Mining from GBX 480 ($6.01) to GBX 460 ($5.76) and set a “hold” rating on the stock in a research note on Monday, October 14th. Canaccord Genuity Group cut their target price on Atalaya Mining from GBX 585 ($7.32) to GBX 555 ($6.94) and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Atalaya Mining Stock Performance

The company has a market capitalization of £503.92 million, a price-to-earnings ratio of 1,790.00, a price-to-earnings-growth ratio of -2.02 and a beta of 1.64. The company’s fifty day simple moving average is GBX 355.69 and its two-hundred day simple moving average is GBX 375.49. The company has a debt-to-equity ratio of 6.27, a quick ratio of 1.64 and a current ratio of 1.65.

Insider Buying and Selling

In other news, insider Jesus Fernandez Lopez purchased 13,912 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average cost of GBX 350 ($4.38) per share, with a total value of £48,692 ($60,925.93). Insiders own 31.43% of the company’s stock.

About Atalaya Mining

Atalaya Mining Plc, together with its subsidiaries, engages in the mineral exploration and development in Spain. The company's flagship property is the Proyecto Riotinto mine, an open-pit copper mine located in the Andalusia region of Spain. It explores for copper concentrates, silver by-products, and gold.