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Atalaya Mining
(LSE:ATYM)
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Rating:77Outperform
Price Target:
1,187.00 p
▲(12.30% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by strong financial performance—very low leverage and improved TTM profitability and cash generation—offset by historical earnings/free-cash-flow volatility typical of copper producers. Technicals are supportive but neutral-to-moderate in momentum, and valuation is reasonable on P/E with only a modest dividend yield.
Positive Factors
Very low leverage
Atalaya’s very low leverage provides meaningful financial resilience for a cyclical mining business. A modest debt burden reduces interest and refinancing pressure, preserves borrowing capacity for sustaining or expansionary investment, and gives management more flexibility when copper markets weaken.
Negative Factors
Commodity-cycle earnings volatility
The historical margin reset shows that Atalaya’s earnings power can change materially across the copper cycle. Dependence on copper economics leaves profitability exposed to metal prices, grades, recoveries, and operating costs, making current margins less dependable than those of a less cyclical business.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Atalaya’s very low leverage provides meaningful financial resilience for a cyclical mining business. A modest debt burden reduces interest and refinancing pressure, preserves borrowing capacity for sustaining or expansionary investment, and gives management more flexibility when copper markets weaken.
Read all positive factors
Atalaya Mining (ATYM) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.61B
Dividend Yield0.91%
Average Volume (3M)653.16K
Price to Earnings (P/E)16.7
Beta (1Y)1.88
Revenue Growth20.02%
EPS Growth42.42%
CountryUK
Employees518
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)0.72
Shares Outstanding153,759,050
10 Day Avg. Volume675,811
30 Day Avg. Volume653,161
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)2.34
Price to Sales (P/S)2.86
P/FCF Ratio11.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,126.67Price Target Upside6.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)1.23
Revenue Forecast (FY)£587.81M
Atalaya Mining Business Overview & Revenue Model
Company Description
Atalaya Mining Copper, S.A., together with its subsidiaries, engages in the mineral exploration and development in Spain. The company's flagship property is the Proyecto Riotinto, an open-pit copper mine located in the Andalusia region of Spain. I...
How the Company Makes Money
Atalaya Mining primarily makes money by producing and selling copper concentrate from its mining and processing operations at Proyecto Riotinto. Revenue is generated from offtake sales where the payable value is driven mainly by the contained copp...
Atalaya Mining Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 500.00M | 482.92M | 326.80M | 340.35M | 361.85M | 405.72M |
| Gross Profit | 170.61M | 154.41M | 49.40M | 55.92M | 39.45M | 181.37M |
| EBITDA | 198.34M | 168.55M | 77.08M | 77.22M | 67.48M | 194.02M |
| Net Income | 110.06M | 84.03M | 31.74M | 38.77M | 33.16M | 133.64M |
Balance Sheet | ||||||
| Total Assets | 1.03B | 792.61M | 675.85M | 670.57M | 663.07M | 585.41M |
| Cash, Cash Equivalents and Short-Term Investments | 352.25M | 166.57M | 52.90M | 121.04M | 126.15M | 92.14M |
| Total Debt | 36.29M | 48.88M | 21.59M | 71.06M | 78.28M | 52.95M |
| Total Liabilities | 205.52M | 198.66M | 157.31M | 178.18M | 196.77M | 149.51M |
| Stockholders Equity | 817.21M | 590.59M | 516.38M | 501.50M | 473.30M | 440.81M |
Cash Flow | ||||||
| Free Cash Flow | 144.85M | 118.77M | -8.01M | 10.45M | -15.09M | 114.25M |
| Operating Cash Flow | 218.69M | 189.63M | 53.40M | 64.74M | 38.50M | 148.84M |
| Investing Cash Flow | -92.17M | -84.16M | -66.07M | -50.41M | -53.53M | -87.53M |
| Financing Cash Flow | 131.98M | 13.20M | -57.26M | -18.50M | 22.41M | 1.85M |
Atalaya Mining Technical Analysis
Positive
1057.00
Price Trends
907.12
Positive
855.85
Positive
852.82
Positive
Market Momentum
43.75
Negative
60.25
Neutral
49.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ATYM, the sentiment is Positive. The current price of 1057 is above the 20-day moving average (MA) of 996.93, above the 50-day MA of 907.12, and above the 200-day MA of 852.82, indicating a bullish trend. The MACD of 43.75 indicates Negative momentum. The RSI at 60.25 is Neutral, neither overbought nor oversold. The STOCH value of 49.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ATYM.
Atalaya Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £1.61B | 16.74 | 16.00% | 0.91% | 20.02% | 42.42% | |
71 Outperform | £303.32M | -8.91 | -15.91% | 6.90% | 22.89% | -218.68% | |
66 Neutral | £489.54M | 29.55 | 8.42% | ― | -1.71% | 94.27% | |
64 Neutral | £38.60B | 31.50 | 15.70% | 1.48% | 20.22% | 46.11% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | £479.12M | 37.49 | 22.56% | 0.73% | 200.18% | ― | |
57 Neutral | £168.16M | -4.60 | -4.91% | 3.06% | -18.14% | -352.95% |
* Basic Materials Sector Average
GB:ATYM
Atalaya Mining
1,033.00
489.61
90.10%
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GB:FXPO
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GB:GFM
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48.17%
Atalaya Mining Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Atalaya Mining posts record H1 2026 earnings, boosts dividend and project pipeline
Positive
Aug 11, 2026
Atalaya Mining reported record EBITDA for both the second quarter and first half of 2026, driven by higher copper prices, solid production and improved recoveries, despite lower grades and increased mining and processing costs. The company maintai...
Business Operations and StrategyExecutive/Board Changes
Atalaya director Mike Armitage takes new board role at Oriole Resources
Positive
Jul 29, 2026
Atalaya Mining Copper, S.A. has announced that independent non-executive director Mike Armitage will join the board of Oriole Resources PLC as a non-executive director from 1 August 2026. The move, disclosed in line with market listing requirement...
Business Operations and StrategyFinancial Disclosures
Atalaya Mining Sets August Date for Q2 and H1 2026 Results and Investor Webcasts
Neutral
Jul 28, 2026
Atalaya Mining plans to release its unaudited financial results for the second quarter and first half of 2026 on 11 August, alongside condensed consolidated financial statements. The company’s leadership will present the results through a we...
Business Operations and StrategyFinancial Disclosures
Atalaya Mining Revises Q2 Net Cash Figure After Reporting Error
Neutral
Jul 21, 2026
Atalaya Mining has corrected the net cash figure previously reported in its Q2 2026 operations update after identifying a clerical error in its accounts. The company now states consolidated cash and cash equivalents of €350.3 million and bor...
Business Operations and StrategyFinancial Disclosures
Atalaya Mining Posts Strong Q2, Builds Cash as Expansion Projects Advance
Positive
Jul 14, 2026
Atalaya Mining reported a strong operational performance in Q2 2026 at Proyecto Riotinto, with ore mined and processed increasing versus both Q1 and the prior year, higher copper grades, improved recoveries and copper production rising to 13,493 t...
Business Operations and StrategyStock BuybackDividendsShareholder Meetings
Atalaya Mining Wins AGM Approval but Faces Pushback on Pay and Governance
Neutral
Jun 25, 2026
Atalaya Mining said shareholders approved all resolutions at its 2026 annual general meeting, including the 2025 annual and sustainability reports, final dividend, changes to share capital authorities, share repurchase powers and updates to its ar...
Business Operations and StrategyDividends
Atalaya Mining Sets Timetable for 2025 Final Dividend
Positive
Jun 25, 2026
Atalaya Mining Copper, S.A., a European copper producer operating the Proyecto Riotinto complex in southwest Spain, manages the Cerro Colorado open pit mine and a large-scale processing plant that can serve as a central hub for its regional projec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.