Thungela Resources Limited (OTCMKTS:TNGRF – Get Free Report) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 13,172 shares, a decrease of 82.9% from the April 15th total of 77,123 shares. Based on an average trading volume of 21,451 shares, the days-to-cover ratio is currently 0.6 days.
Thungela Resources Price Performance
Shares of TNGRF stock opened at $8.50 on Tuesday. The stock has a 50-day moving average of $9.10 and a 200-day moving average of $6.93. Thungela Resources has a one year low of $4.25 and a one year high of $10.72.
Thungela Resources Company Profile
Thungela Resources plc is a thermal coal producer with its core operations located in South Africa’s Mpumalanga region. The company operates a portfolio of open-pit coal mines that supply primarily thermal coal to domestic power producers and export customers. Its mines deliver coal for electricity generation in South Africa and for export markets across Asia and Europe, offering both standard steam coal and higher‐energy products tailored to customer specifications.
Formed in June 2021 through a spin-out from Anglo American plc, Thungela Resources inherited a vertically integrated mining platform with established infrastructure and long-term offtake agreements.
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