Thungela Resources Limited (OTCMKTS:TNGRF – Get Free Report) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 3,367 shares, a decrease of 48.8% from the May 31st total of 6,581 shares. Based on an average trading volume of 3,943 shares, the days-to-cover ratio is presently 0.9 days.
Thungela Resources Stock Performance
Shares of TNGRF opened at $5.49 on Wednesday. The company’s fifty day moving average is $8.07 and its 200 day moving average is $7.74. Thungela Resources has a fifty-two week low of $4.25 and a fifty-two week 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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