Atalaya Mining (ATYM)

Sector:

Mining

Index:

FTSE AIM 100

388.00p
   
  • Change Today:
      9.00p
  • 52 Week High: 388.00
  • 52 Week Low: 286.00
  • Currency: UK Pounds
  • Shares Issued: 139.90m
  • Volume: 319,114
  • Market Cap: £542.81m

Energy prices hit Atalaya earnings despite consistent production

By Josh White

Date: Wednesday 09 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Atalaya Mining reported a "consistent" third quarter of production on Wednesday, supporting its own confidence in full-year guidance.
The AIM-traded firm said its EBITDA for the nine months ended 30 September totalled €37.1m, down from €148.21m year-on-year.

It noted that the result came amid "extremely high" electricity prices and other input cost inflation, which resulted in an EBITDA loss of €4.3m in the third quarter itself.

The company said it maintained a "strong" balance sheet, with net cash standing at €55.6m.

It said it had made continued investments in growth, future cost reductions and decarbonisation through an exploration programme, a 50 MW solar plant, and the first phase of the 'E-LIX' project.

Lower power prices since the end of the third quarter supported the board's positive outlook for the final quarter of the year, and into 2023, when a new power purchase agreement and the 50 MW solar plant were expected to "materially" lower costs.

"The third quarter was a consistent quarter operationally, with good throughput and improved grades compared to earlier quarters in 2022," said chief executive officer Alberto Lavandeira.

"These trends are expected to continue in Q4 and into 2023 and support our reiterated 2022 guidance.

"In terms of financial results, we were impacted by lower copper prices and very high inflationary pressures, most notably the price of electricity including extremely severe spikes in August and September."

Lavandeira noted that since the end of the period, electricity prices had decreased by about 40% due to mild weather and growing wind generation in Spain, reduced industrial demand, and a good supply of LNG cargoes.

"As a result, we expect that costs will moderate in the fourth quarter and look forward to 2023, when we will also benefit from our new long-term power purchase agreement and the start-up of the 50 MW solar plant, which will together provide around 50% of our electricity requirements at highly competitive rates.

"With the benefit of a strong balance sheet, we remain committed to investing in growth.

"Through greenfield exploration, the development of higher-grade orebodies and Touro, and operating a commercial scale E-LIX plant, we are confident that Atalaya will transform into a growth oriented and diversified multi-asset copper producer."

At 1239 GMT, shares in Atalaya Mining were down 1.71% at 281.11p.

Reporting by Josh White for Sharecast.com.

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Atalaya Mining Market Data

Currency UK Pounds
Share Price 388.00p
Change Today 9.00p
% Change 2.37 %
52 Week High 388.00
52 Week Low 286.00
Volume 319,114
Shares Issued 139.90m
Market Cap £542.81m

Atalaya Mining Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
21.96% below the market average21.96% below the market average21.96% below the market average21.96% below the market average21.96% below the market average
96.95% below the sector average96.95% below the sector average96.95% below the sector average96.95% below the sector average96.95% below the sector average
Price Trend
72.91% below the market average72.91% below the market average72.91% below the market average72.91% below the market average72.91% below the market average
77.62% above the sector average77.62% above the sector average77.62% above the sector average77.62% above the sector average77.62% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
13.04% below the sector average13.04% below the sector average13.04% below the sector average13.04% below the sector average13.04% below the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
6.25% below the sector average6.25% below the sector average6.25% below the sector average6.25% below the sector average6.25% below the sector average

What The Brokers Say

Strong Buy 3
Buy 2
Neutral 1
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Atalaya Mining Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Aug-23 06-Jul-23
Paid 28-Sep-23 08-Aug-23
Amount 5.00¢ 3.85¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 24,708 @ 388.00p
16:35 1 @ 388.00p
16:35 336 @ 388.00p
16:35 1,623 @ 388.00p
16:35 555 @ 388.00p

Atalaya Mining Key Personnel

CEO Alberto Lavandeira

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