Will Atalaya Mining PLC Short Squeeze Soon? The Stock Just Gapped Up

 Will Atalaya Mining PLC Short Squeeze Soon? The Stock Just Gapped Up

The stock of Atalaya Mining PLC (LON:ATYM) gapped up by GBX 0.65 today and has GBX 148.40 target or 6.00% above today’s GBX 140.00 share price. The 5 months technical chart setup indicates low risk for the GBX 163.02 million company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 148.40 price target is reached, the company will be worth GBX 9.78 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 1.45% or GBX 2 on November 23, hitting GBX 140. About 148,434 shares traded hands or 6.56% up from the average. Atalaya Mining PLC (LON:ATYM) has risen 38.65% since April 26, 2016 and is uptrending. It has outperformed by 33.32% the S&P500.

Atalaya Mining PLC (LON:ATYM) Ratings Coverage

Out of 3 analysts covering Atalaya Mining Plc (LON:ATYM), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. GBX 209 is the highest target while GBX 135 is the lowest. The GBX 193 average target is 37.86% above today’s (GBX 140) stock price. Atalaya Mining Plc has been the topic of 26 analyst reports since November 18, 2015 according to StockzIntelligence Inc. FinnCap maintained Atalaya Mining PLC (LON:ATYM) on Wednesday, May 4 with “Buy” rating. The firm has “Buy” rating by Peel Hunt given on Thursday, March 24. The stock of Atalaya Mining PLC (LON:ATYM) has “Speculative Buy” rating given on Tuesday, October 11 by Canaccord Genuity. On Tuesday, September 20 the stock rating was maintained by FinnCap with “Buy”. FinnCap maintained it with “Buy” rating and GBX 195 target price in Wednesday, June 15 report. Peel Hunt maintained Atalaya Mining PLC (LON:ATYM) on Wednesday, September 21 with “Buy” rating. The stock of Atalaya Mining PLC (LON:ATYM) earned “Buy” rating by Peel Hunt on Monday, August 8. The stock of Atalaya Mining PLC (LON:ATYM) earned “Buy” rating by Peel Hunt on Tuesday, October 11. Peel Hunt maintained Atalaya Mining PLC (LON:ATYM) rating on Thursday, May 5. Peel Hunt has “Buy” rating and GBX 150 price target. On Thursday, July 14 the stock rating was maintained by FinnCap with “Buy”.

More recent Atalaya Mining PLC (LON:ATYM) news were published by: Marketwired.com which released: “Atalaya Mining plc: Filing of NI 43-101 Technical Report” on September 29, 2016. Also Marketwired.com published the news titled: “Atalaya Mining PLC Announces Q3 2016 Operational Update” on October 11, 2016. Marketwired.com‘s news article titled: “Atalaya Mining PLC: Updated Reserves and Resources Statement” with publication date: July 14, 2016 was also an interesting one.

Atalaya Mining PLC, formerly EMED Mining Public Limited, is a Cyprus new European copper firm focused on the re-start of production at the Rio Tinto Copper Project. The company has a market cap of 163.02 million GBP. It comprises a number of deposits including one of the largest copper deposits in Spain and is located in the Iberian Pyrite Belt. It currently has negative earnings.

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