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Highlights

  • Atalaya Mining PLC (LSE: ATYM) is an FTSE AIM 100 index listed mining and development company.
  • During FY22, the firm produced around 52,269 tonnes of copper.
  • For the ongoing year, the company is expecting copper production to be between 53,000 and 55,000 tonnes.

FTSE AIM 100 index listed mining and development company, Atalaya Mining PLC (LSE: ATYM) produces copper concentrates and silver by-products at its 100% owned Proyecto Riotinto site, Spain. The key operations are in central Europe, Russia, North America, and South Africa.

The company has been progressing operational developments with continued investments in growth, exploration, cost reductions and decarbonisation.

During FY22, the firm produced around 52,269 tonnes of copper. However, in comparison to FY21, the copper production dropped in FY22 by 6.8% year-on-year (YoY). At the end of FY22, the company had a net cash of about €53.1 million.

For FY22, the firm has announced a final dividend of 3.85 US cents per share. It will be paid in August 2023 with an ex-dividend date of 06 July 2023.

ATYM’s performance during Q1 FY23

The company has delivered a positive financial performance during the first quarter of the fiscal year 2023. It posted EBITDA of €24.4 million during the quarter. The company ended Q1 FY23 with a net cash of €55.3 million.

ATYM registered a revenue growth of approximately 5.7% year-on-year in Q1 FY23, due to higher sale of copper concentrate volumes.

For the ongoing year, the company is expecting copper production to be between 53,000 and 55,000 tonnes.

Other developments

The company has been advancing the construction-related work of its 50 MW solar plant at Riotinto. It has planned to cater to around 22% of its power requirements after the plant is operational later this year.

The company is looking forward for the production of high purity copper or zinc metals at its E-LIX Phase I plant in the second half of FY23.

Top 10 Shareholders
The top 10 shareholders collectively form ~60.88% of the total shareholdings. Urion Holdings (Malta) Ltd. holds the maximum number of shares with ~22.04% shareholding, followed by Cobas Asset Management, SGIIC, SA with ~8.67% shareholding, as depicted in the chart below.

Stock Price Performance

The stock has witnessed a decline of ~2.10% in the last three months and over the last 6 months, it has increased by ~1.24%. The stock has a 52-week low and 52-week high of GBX 183.00 & GBX 385.00.

Data Source: EODHD/Others, Analysis done by Kalkine Group

Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 04 July 2023. The reference data in this report has been partly sourced from EODHD/Others.