olivLaw · European equity research
Atalaya Mining PLC ATYM.L
United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom
Atalaya Mining is a European copper producer with its core operations at Proyecto Riotinto in Spain, and a development portfolio that could extend output. In 2025 the company produced 51,139 tonnes of copper, and the LME price averaged 4.51 USD/lb, which makes it relevant to Europe's copper supply.
At the close of 06 Nov 2026, Atalaya Mining PLC (ATYM.L) stock was 8.27 GBP (−0.72% on the day), with beta 1.37, 52-week range 6.47–11.09 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 38.3
- weak (30–45)
- Bollinger (20, 2)
- 7.34 – 10.62
- in the lower half of the band · %B 0.28 · band width 36.5%
- SMA 50 / 200
- 9.76 / 8.92
- mixed trend
- MACD (12, 26, 9)
- -0.45 / -0.42
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −17.8% | −0.6% | −17.2 pp | — |
| 3 months | −14.7% | −4.2% | −10.5 pp | — |
| 6 months | +1.4% | +4.3% | −2.9 pp | — |
| Year to date | −3.3% | +7.5% | −10.8 pp | — |
| 1 year | +19.6% | +9.9% | +9.7 pp | +3.7% |
| 3 years | +181.1% | +49.8% | +131.3 pp | +24.2% |
| 5 years | +114.7% | +42.8% | +71.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 340.3 m | 326.8 m | 482.9 m |
| Revenue YoY | unavailable | −4.0% | +47.8% |
| Net income | 38.8 m | 31.7 m | 85.6 m |
| Net income YoY | unavailable | −18.1% | +169.6% |
| Diluted EPS | 0.27 | 0.22 | 0.58 |
| Diluted EPS YoY | unavailable | −19.0% | +167.4% |
| net % | 11.4% | 9.7% | 17.7% |
| Free cash flow | 10.9 m | -6.8 m | 120.3 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 166.3 m EUR
- Financial debt
- 44.3 m EUR
- Net debt
- -122.0 m EUR
- Equity
- 591.8 m EUR
- Total assets
- 791.6 m EUR
- Debt / equity
- 0.07x
- Current ratio
- 1.64x
- ROE
- 15.4%
- ROA
- 11.7%
- FCF margin
- 24.9%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 340.3 m | 326.8 m | 482.9 m | esef· 12 May 2026verified |
| Gross profit | 55.9 m | 49.4 m | 154.4 m | esef· 12 May 2026verified |
| Operating income | 35.3 m | 28.5 m | 110.8 m | esef· 12 May 2026verified |
| Interest expense | 3.3 m | 2.0 m | 4.1 m | esef· 12 May 2026verified |
| Pre-tax income | 36.1 m | 31.5 m | 102.3 m | esef· 12 May 2026verified |
| Income tax | -570.0 k | -1.0 m | 16.9 m | esef· 12 May 2026verified |
| Net income | 38.8 m | 31.7 m | 85.6 m | esef· 12 May 2026verified |
| Diluted EPS | 0.27 | 0.22 | 0.58 | esef· 12 May 2026verified |
| Dividend per share | 0.08 | 0.07 | 0.07 | esef· 12 May 2026derived |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 121.0 m | 52.9 m | 166.3 m | esef· 12 May 2026verified |
| Receivables | 42.9 m | 36.9 m | 41.1 m | esef· 12 May 2026verified |
| Inventories | 33.3 m | 49.2 m | 30.9 m | esef· 12 May 2026verified |
| Current assets | 197.3 m | 144.5 m | 241.2 m | esef· 12 May 2026verified |
| Property, plant & equipment, net | 384.7 m | 409.0 m | — | esef· 29 Apr 2025verified |
| Intangibles (excl. goodwill) | 49.4 m | 70.2 m | 74.9 m | esef· 12 May 2026verified |
| Total assets | 670.6 m | 675.9 m | 791.6 m | esef· 12 May 2026verified |
| Short-term debt | 50.6 m | 6.9 m | 38.6 m | esef· 12 May 2026verified |
| Long-term debt | 16.1 m | 10.9 m | 5.7 m | esef· 12 May 2026verified |
| Current liabilities | 128.7 m | 99.8 m | 147.4 m | esef· 12 May 2026verified |
| Total liabilities | 178.2 m | 157.3 m | 199.8 m | esef· 12 May 2026verified |
| Equity | 492.4 m | 518.5 m | 591.8 m | esef· 12 May 2026verified |
| Shares outstanding at year end | 140.0 m | 140.4 m | 140.8 m | esef· 12 May 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 64.7 m | 53.4 m | 192.5 m | esef· 12 May 2026verified |
| Capex | 53.8 m | 60.2 m | 72.2 m | esef· 12 May 2026verified |
| Free cash flow | 10.9 m ≈ | -6.8 m ≈ | 120.3 m ≈ | esef· 12 May 2026derived |
| Investing cash flow | -50.4 m | -66.1 m | -85.1 m | esef· 12 May 2026verified |
| Financing cash flow | -18.5 m | -57.3 m | 13.4 m | esef· 12 May 2026verified |
| Dividends paid | 11.5 m | 10.3 m | 10.1 m | esef· 12 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 7.04 – 13.34 EUR.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E7.04 – 13.34 (Mid 9.35)19 companies used · median multiple 16.0x · quartiles 12.1x – 22.9x0EV1.L, ABDN.L, ABF.L, AIRE.L, AJB.L, ALFA.L, AMIF.L, APN.L, APTD.L, ASHM.L, AUTO.L, BAB.L, BAG.L, BATS.L, BBY.L, BCG.L, BKG.L, BME.L, BMS.L
- Dividend discount (DDM)outside the aggregate0.97 – 1.32 (Mid 1.12)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 19.4% | 75 (vs peers) | 28% |
| Net margin · Quality | 17.7% | 69 (vs peers) | 17% |
| FCF conversion · Quality | 140.6% | 100 (on a fixed band) | 17% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 26.9x | 100 (on a fixed band) | 17% |
| Current ratio · Balance sheet | 1.6x | 70 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 8.4% | 100 (on a fixed band) | 11% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet88/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality80/100 · 3/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ATALAYA MINING PLC (ATYM.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 482.9 m EUR in 2025; YoY growth 47.8%; net margin 17.7%; ROE 15.5%.
The estimated value range is 7.04–13.34 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 19.4%
- FCF conversion: 140.6%
- Interest coverage: 26.9x
- Payout ratio (FCF): 8.4%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 101.0 bn | 13.1 | 16.5% | 30.3% | −1.0% | +3% / +82% |
| ABF.LAssociated British Foods PLC | 14.4 bn | 14.1 | 9.2% | 5.3% | −3.1% | −7% / −16% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.0 bn | 24.4 | 34.7% | 4.1% | +7.2% | −11% / +155% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.3 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.3 bn | 16.4 | 23.2% | 2.8% | +15.2% | +21% / +162% |
| ABDN.LAberdeen Group PLC | 4.0 bn | 10.6 | 8.0% | 28.9% | −2.1% | +8% / +37% |
| BKG.LThe Berkeley Group Holdings PLC | 3.5 bn | 11.1 | 8.8% | 13.4% | −4.2% | −2% / −24% |
| BME.LB&M European Value Retail PLC | 2.8 bn | 17.2 | 21.2% | 2.8% | +3.7% | +66% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.6 | 49.9% | 33.1% | +18.0% | +7% / +126% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.7 | 13.1% | 71.6% | −0.1% | +27% / +16% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 757.3 m | 35.9 | 41.2% | 19.7% | +24.2% | +70% / unavailable |
| BAG.LA.G. Barr P.L.C. | 660.8 m | 14.2 | 14.4% | 10.8% | +4.0% | −9% / +24% |
| ASC.LAsos PLC | 496.9 m | — | -81.3% | -12.0% | −14.7% | +72% / +9% |
| ALFA.LAlfa Financial Software Holdings PLC | 480.3 m | 16.0 | 61.5% | 23.8% | +15.3% | −29% / +8% |
| AML.LAston Martin Lagonda Global Holdings PLC | 341.3 m | — | -93.4% | -39.2% | −20.6% | −46% / −85% |
| APTD.LAptitude Software Group PLC | 112.5 m | 28.7 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| BMS.LBraemar PLC | 77.7 m | 38.8 | 2.7% | 1.7% | −4.4% | +12% / −12% |
| AMGO.LAmigo Holdings PLC | 10.3 m | — | — | — | −81.9% | +340% / +878% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −11% / +154% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +61% / +64% |
1- and 3-year price returns: for ATYM.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Atalaya Mining is a European copper producer with its core operations at Proyecto Riotinto in Spain, and a development portfolio that could extend output. In 2025 the company produced 51,139 tonnes of copper, and the LME price averaged 4.51 USD/lb, which makes it relevant to Europe's copper supply.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Health and safetyhigh
Mining operations carry risks of serious injury, and a rising injury rate could affect operational continuity and reputation 1.
- Copper price and exchange rateshigh
Revenues are exposed to copper price volatility and the EUR/USD rate, which could compress margins and investment capacity 1.
- Community relations and social licencemedium
Project development depends on local community relations and permits; failure could delay projects 1.
- Tailings storage facilitiesmedium
Managing tailings storage involves geotechnical and environmental risks that could have serious operational impact if poorly monitored 1.
- Regulation and permittingmedium
Permitting for new projects such as Touro is complex and could be prolonged or changed 1.
Investment thesis
What would need to be true (bull case)
- If copper prices stayed high and output reached the upper end of guidance, revenue and cash flow could support project development 1.
- If San Dionisio, San Antonio and Masa Valverde delivered better-grade ore, costs could fall and output could rise 1.
- The net cash position could provide flexibility to fund growth without significant external capital 1.
What would break the thesis
What to watch
- Output against guidance of 50,000 to 54,000 tonnes of copper2026
- Progress of Touro permitting in Galicia2026
- AISC against the 3.10 to 3.40 USD/lb guidance2026
- LTIFR trend after the new safety measuresnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Atalaya Mining Copper, S.A. runs a hub-and-spoke model, with a centralised processing hub at Proyecto Riotinto that uses existing infrastructure to process ore from nearby zones, according to the annual report 1. The company is listed on the London Stock Exchange and re-domiciled to Spain, which allowed its inclusion in the FTSE 250 in May 2025 1. Its strategy emphasises operational efficiency, disciplined capital allocation and extending mine life.
Development assets include the San Dionisio and San Antonio deposits, next to the Cerro Colorado open pit, and the underground Masa Valverde project within trucking distance of the plant 1. Proyecto Touro in northwest Spain, a brownfield copper project, is progressing through permitting 1. Together these could extend mine life and improve feed grade.
Segments
Proyecto Riotinto (existing operations)
The main asset, a wholly owned open-pit copper mine, produces around 50,000 tonnes of copper a year and set a new processing record with over 16.6 million tonnes of ore in 2025 1. Cash cost was 2.40 USD/lb in 2025 1.
Market context
The LME copper price averaged 4.51 USD/lb in 2025, after starting the year below 4.00 USD/lb and ending near 5.70 USD/lb, following supply disruptions at Kamoa-Kakula and Grasberg 1. Analysts expect the price to stay above 5 USD/lb in 2026, though it could be volatile in the short term 1. EUR/USD averaged about 1.13, affecting USD revenues and EUR costs 1.
Global copper demand is supported by population growth, electrification, the energy transition and new technologies, while supply is constrained by stricter regulatory and environmental requirements 1. If these dynamics persist, they could support the company's medium- and long-term growth plans 1.
Trends
- Structural copper supply deficittailwind
Management argues that copper supply grows more slowly than demand because of regulatory and technical hurdles on new projects, which could keep prices high 1.
- Supply disruptions at major producerstailwind
Disruptions at Kamoa-Kakula and Grasberg helped lift copper prices in the second half of 2025 1. If such disruptions continued, they could support prices for existing producers 1.
- Copper price volatilityheadwind
Prices fell to 3.87 USD/lb after the April 2025 tariff announcement, showing how revenues are exposed to macro shocks 1. Volatility could compress margins if prices fell 1.
- EUR/USD exchange ratemixed
Costs are largely in EUR while revenues are in USD; a weaker dollar reduces revenues and raises USD-reported costs 1. The effect could be mixed depending on the direction of the rate 1.
Competitive position
Atalaya competes in the global copper market with large and mid-tier producers, whose output and costs shape the price the company can obtain. The annual report does not detail direct competitors, so the analysis rests on its positioning as a European single-hub producer 1. European supply access and stable jurisdictions could be relative advantages 1.
Its competitive strengths include controlled operating costs and a project portfolio that could extend output, but these are not benchmarked against other producers 1. The source offers no comparative cost or market share data.
- Large global copper producers
Large-scale producers that influence copper prices; the source does not name them.
- European mid-tier producers
Companies with European or Latin American operations of comparable profile; the source does not identify them.
- Kamoa-Kakula and Grasberg mines
Operations whose disruption supported prices in 2025; cited as market factors rather than direct competitors.
- North American copper producers
Regional companies relevant to market share and investor comparison; the source does not mention them.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202512 May 2026
- Annual report 202429 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Atalaya Mining PLC · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.