Atalaya Mining Copper, S.A. (LSE:ATYM) shares advanced 6.1% on Tuesday, to 837.5p, after the company reiterated FY2026 production guidance despite first-quarter copper output falling to 9,939 tonnes due to heavy rainfall.
Revenues for the period ended 31 March were €117.3m (Q1 2025: €130.7m), EBITDA €48m (Q1 2025: €52.5m), profit after tax €28.3m (Q1 2025: €30.5m) and basic earnings per share 19.0 cents (Q1 2025: 21.6 cents).
Cash costs were US$2.52/lb payable copper (Q1 2025: US$2.25/lb) and AISC US$3.20/lb (Q1 2025: US$2.74/lb), with lower grades-average copper grade 0.30% (Q1 2025: 0.42%)—and higher capitalised stripping at Cerro Colorado cited as the main drivers.
Atalaya ended the quarter with cash and equivalents of €279.7m and borrowings of €13.4m, yielding a net cash position of €266.4m, supported by €150.2m gross proceeds from a January equity offering and a working capital surplus of €254.4m.
"In this uncertain environment, Atalaya benefits from a robust balance sheet, supported by ongoing cash generation and the recent equity offering," Alberto Lavandeira, CEO, said.
The company said the environmental impact statement for the Touro project in Galicia is expected to be finalised before the summer.
