Thungela Resources (LON:TGA) Hits New 1-Year High - Time to Buy?

Key Points

• Thungela Resources hit a new 52-week high, trading intraday as high as GBX 735 and last at GBX 724 on heavy volume (34,555,883 shares), up about 4% from the prior close of GBX 696.
• Shares are trading well above the 50‑day (GBX 486.90) and 200‑day (GBX 415.07) moving averages; the company has a market cap of £930.87m, an unusually low P/E of 0.38, low leverage (debt/equity 0.16) and strong liquidity (quick ratio 3.53).
• Thungela is a thermal coal miner with multiple underground and open‑cast collieries in Mpumalanga, South Africa, and an 85% stake in the Ensham mine in Queensland, Australia.

Thungela Resources Limited (LON:TGA - ) hit a new 52-week high during trading on Monday . The stock traded as high as GBX 735 and last traded at GBX 724, with a volume of 34555883 shares traded. The stock had previously closed at GBX 696.

Thungela Resources Trading Up 4.0%

The business has a fifty day moving average price of GBX 486.90 and a 200 day moving average price of GBX 415.07. The company has a market capitalization of £930.87 million, a price-to-earnings ratio of 0.38 and a beta of -0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.88 and a quick ratio of 3.53.

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.

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