Canaccord Genuity Group Issues Pessimistic Forecast for Atalaya Mining (LON:ATYM) Stock Price

Atalaya Mining (LON:ATYM) had its price objective dropped by equities research analysts at Canaccord Genuity Group from GBX 585 ($7.53) to GBX 555 ($7.14) in a report issued on Wednesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 63.48% from the stock’s previous close.

Separately, Berenberg Bank lowered their price objective on Atalaya Mining from GBX 480 ($6.18) to GBX 460 ($5.92) and set a “hold” rating for the company in a research note on Monday, October 14th.

Atalaya Mining Stock Down 5.0 %

Shares of LON ATYM traded down GBX 18 ($0.23) on Wednesday, reaching GBX 339.50 ($4.37). 1,076,367 shares of the company’s stock traded hands, compared to its average volume of 278,158. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 6.27. The business’s 50 day simple moving average is GBX 375.29 and its two-hundred day simple moving average is GBX 396.86. Atalaya Mining has a 12 month low of GBX 294 ($3.78) and a 12 month high of GBX 493.50 ($6.35). The company has a market cap of £477.88 million, a price-to-earnings ratio of 1,717.50, a price-to-earnings-growth ratio of -2.02 and a beta of 1.64.

Insider Buying and Selling at Atalaya Mining

In other news, insider Neil Gregson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of GBX 343 ($4.41) per share, for a total transaction of £17,150 ($22,069.23). 31.43% of the stock is owned by company insiders.

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.