Thungela Resources Limited (OTCMKTS:TNGRF) Sees Large Growth in Short Interest

Thungela Resources Limited (OTCMKTS:TNGRF) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 30,954 shares, a growth of 732.5% from the June 30th total of 3,718 shares. Based on an average daily trading volume, of 13,255 shares, the days-to-cover ratio is presently 2.3 days.

Thungela Resources Stock Up 0.2%

Shares of Thungela Resources stock opened at $6.50 on Friday. The business’s fifty day moving average price is $7.24 and its two-hundred day moving average price is $7.74. Thungela Resources has a 1-year low of $4.25 and a 1-year 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.