In a report released yesterday, Andrew Breichmanas from Stifel Nicolaus maintained a Buy rating on Atalaya Mining (ATYM – Research Report), with a price target of p475.00.
Andrew Breichmanas has given his Buy rating due to a combination of factors that highlight Atalaya Mining’s strong operational performance and strategic advancements. The company reported a robust copper production of 14,291 tonnes in the first quarter of 2025, marking its best quarterly output since the second quarter of 2021. This achievement was driven by higher ore grades and minimal plant downtime, surpassing both the previous quarter and the same period last year by significant margins.
Despite a reduction in the target price to 475p due to prevailing commodity prices, the company’s full-year production outlook remains unchanged, with expectations of 48,000-52,000 tonnes of copper at competitive cash costs. Additionally, Atalaya’s near-term growth strategy is progressing well, with ongoing waste stripping at San Dionisio and advancements in the E-LIX Phase I plant. These factors, combined with the company’s solid financial position, underpin Breichmanas’s positive outlook and Buy rating for Atalaya Mining.
According to TipRanks, Breichmanas is ranked #1151 out of 9350 analysts.
In another report released yesterday, Canaccord Genuity also reiterated a Buy rating on the stock with a p525.00 price target.