Thungela Resources (LON:TGA) Trading 10.3% Higher – Time to Buy?

Thungela Resources Limited (LON:TGA) rose 10.3% during trading on Friday . The company traded as high as GBX 818 and last traded at GBX 810.66. 11,055,667 shares were traded during mid-day trading, an increase of 1,810% from the average daily volume of 578,902 shares. The stock had previously closed at GBX 735.

Thungela Resources Stock Performance

The company has a quick ratio of 3.53, a current ratio of 1.88 and a debt-to-equity ratio of 0.16. The stock has a market cap of £1.04 billion, a P/E ratio of 0.43 and a beta of -0.87. The stock has a fifty day simple moving average of GBX 539.28 and a 200-day simple moving average of GBX 435.39.

Thungela Resources Company Profile

Thungela Resources Limited engages in the mining and production of thermal coal in South Africa and Australia. It owns interests in and produces its thermal coal from mining operations, consisting of underground and open cast mines in the Mpumalanga province of South Africa, including including Goedehoop colliery, Greenside colliery, Isibonelo colliery, Khwezela colliery, Zibulo colliery, Mafube colliery, and Rietvlei colliery. It also holds 85% of the Ensham Mine located in Queensland, Australia.