JP Morgan has initiated coverage of Atalaya Mining Copper with an "overweight" rating and a £13.30 price target, signaling about 30% potential upside. The bank highlights Atalaya as one of the few pure-play copper producers based in the EU, which is strategically important amid EU concerns over securing critical raw materials. Atalaya aims to produce around 100,000 tonnes of copper equivalent annually, driven by the greenfield Touro project and expansions near the Riotinto mine. JP Morgan sees strong growth potential, modest capital expenditure, and a valuation that is attractive compared to mid-cap peers, with shares trading at about 4.5 times earnings in 2026 and 3 times in 2027, suggesting room for re-rating.
Atalaya Mining and its recent JP Morgan rating are noted here with Pluang's Basic Materials sector data as of Sep 22, 2026 18:51 WIB. For readers following Basic Materials, of 38 US stocks priced on Pluang, 17 rose and 19 fell today. Notable movers include LYB at USD 59.85 with 76% buy order activity, RIO at USD 96.60 with 100% buy order activity, and APD at USD 280.71 with a 0.45% price increase. The most notable figure is RIO's 100% buy order activity on Pluang.
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