Berenberg Bank Forecasts Strong Price Appreciation for Atalaya Mining (LON:ATYM) Stock

Atalaya Mining (LON:ATYM) had its price target upped by investment analysts at Berenberg Bank from GBX 420 ($5.73) to GBX 500 ($6.82) in a report released on Thursday, Marketbeat reports. The firm currently has a “hold” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 7.99% from the stock’s previous close.

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 525 ($7.17) price objective on shares of Atalaya Mining in a research note on Thursday, May 29th.

Atalaya Mining Stock Down 1.0%

LON ATYM opened at GBX 463 ($6.32) on Thursday. 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 has a fifty day moving average of GBX 431.01 and a two-hundred day moving average of GBX 383.99. The firm has a market capitalization of £789.08 million, a price-to-earnings ratio of 28.70, a PEG ratio of -2.02 and a beta of 1.64. Atalaya Mining has a 52 week low of GBX 275.29 ($3.76) and a 52 week high of GBX 476 ($6.50).

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.