Thungela Resources (LON:TGA) Sets New 52-Week High - Still a Buy?

Key Points

• Thungela's stock hit a new 52-week high intraday at GBX 761.25 (last traded GBX 761.25) on volume of 10,115,441 shares, trading up about 3.7% from the prior close of GBX 735.
• The company has a market capitalization of £980.4M and an unusually low reported P/E of 0.40, with low leverage (debt-to-equity 0.16) and strong liquidity (current ratio 1.88, quick ratio 3.53); beta is -0.87.
• Thungela is a thermal coal producer with multiple underground and open-cast mines in South Africa and an 85% stake in the Ensham Mine in Queensland, Australia.

Thungela Resources Limited (LON:TGA - )'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 761.25 and last traded at GBX 761.25, with a volume of 10115441 shares traded. The stock had previously closed at GBX 735.

Thungela Resources Trading Up 3.7%

The company has a fifty day simple moving average of GBX 532 and a two-hundred day simple moving average of GBX 432.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.88 and a quick ratio of 3.53. The company has a market capitalization of £980.42 million, a P/E ratio of 0.40 and a beta of -0.87.

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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