Thungela Resources Limited (OTCMKTS:TNGRF) Short Interest Down 53.5% in May

Thungela Resources Limited (OTCMKTS:TNGRF) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 6,581 shares, a drop of 53.5% from the May 14th total of 14,138 shares. Based on an average trading volume of 4,545 shares, the short-interest ratio is currently 1.4 days.

Thungela Resources Trading Up 4.0%

TNGRF stock opened at $8.19 on Friday. The firm has a 50 day moving average of $8.72 and a 200-day moving average of $7.57. Thungela Resources has a 12-month low of $4.25 and a 12-month 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.