Thungela Resources Limited (OTCMKTS:TNGRF – Get Free Report) was the recipient of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 6,581 shares, a decline of 53.5% from the May 14th total of 14,138 shares. Based on an average trading volume of 4,545 shares, the days-to-cover ratio is currently 1.4 days.
Thungela Resources Trading Up 4.0%
Shares of TNGRF stock opened at $8.19 on Friday. The company has a 50 day moving average price of $8.72 and a 200-day moving average price of $7.57. Thungela Resources has a 52 week low of $4.25 and a 52 week high of $10.72.
About Thungela Resources
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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