The stock of Atalaya Mining PLC (LON:ATYM) gapped down by GBX 0.97 today and has GBX 131.10 target or 5.00% below today’s GBX 138.00 share price. The 8 months technical chart setup indicates high risk for the GBX 163.29 million company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 131.10 price target is reached, the company will be worth GBX 8.16 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 4.83% or GBX 7 on November 30, hitting GBX 138. About 150,828 shares traded hands. Atalaya Mining PLC (LON:ATYM) has risen 33.01% since May 3, 2016 and is uptrending. It has outperformed by 27.78% 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. Atalaya Mining Plc has been the topic of 27 analyst reports since November 18, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained it with “Speculative Buy” rating and GBX 205 target price in Friday, September 30 report. The firm has “Speculative Buy” rating given on Thursday, June 9 by Canaccord Genuity. Peel Hunt maintained the shares of ATYM in a report on Wednesday, February 3 with “Buy” rating. FinnCap maintained the shares of ATYM in a report on Wednesday, May 4 with “Buy” rating. FinnCap maintained Atalaya Mining PLC (LON:ATYM) rating on Tuesday, February 23. FinnCap has “Buy” rating and GBX 195 price target. The rating was maintained by Canaccord Genuity with “Speculative Buy” on Tuesday, October 11. The stock of Atalaya Mining PLC (LON:ATYM) earned “Buy” rating by FinnCap on Monday, July 25. On Monday, October 3 the stock rating was maintained by Canaccord Genuity with “Speculative Buy”. The company was maintained on Thursday, March 24 by Peel Hunt. Peel Hunt maintained the shares of ATYM in a report on Tuesday, December 1 with “Buy” rating.
More recent Atalaya Mining PLC (LON:ATYM) news were published by: Marketwired.com which released: “Atalaya Mining plc (“Atalaya” or the “Company”) Operational review and release …” on November 24, 2016. Also Marketwired.com published the news titled: “Atalaya Mining plc: Filing of NI 43-101 Technical Report” on September 29, 2016. Marketwired.com‘s news article titled: “Atalaya Mining PLC Announces Q3 2016 Operational Update” with publication date: October 11, 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 163.29 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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