Thungela Resources Limited (OTCMKTS:TNGRF – Get Free Report) was the recipient of a large increase in short interest in October. As of October 30th, there was short interest totaling 11,925 shares, an increase of 94.0% from the October 15th total of 6,146 shares. Based on an average daily volume of 3,983 shares, the short-interest ratio is currently 3.0 days.
Thungela Resources Stock Up 2.5%
Shares of OTCMKTS:TNGRF traded up $0.18 during mid-day trading on Friday, reaching $7.45. 4,000 shares of the stock were exchanged, compared to its average volume of 10,275. The stock’s 50 day simple moving average is $8.00 and its 200-day simple moving average is $7.77. Thungela Resources has a one year low of $4.47 and a one year high of $10.72.
Thungela Resources Company Profile
Thungela Resources is a thermal coal producer focused on mining, processing and marketing coal for power generation. Its products serve both domestic customers in South Africa and export markets. The company was established as an independent business following its demerger from Anglo American in 2021. Its operations are centered in South Africa, with an interest in the Ensham coal mine in Queensland, Australia, expanding its presence beyond its home market. Thungela is led by chief executive officer July Ndlovu.
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