Thungela Resources (LON:TGA) Trading 7% Higher - Here's Why

Shares of Thungela Resources Limited (LON:TGA - Get Free Report) were up 7% during trading on Tuesday . The stock traded as high as GBX 575 ($7.20) and last traded at GBX 567.50 ($7.10). Approximately 107,009 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 170,798 shares. The stock had previously closed at GBX 530.50 ($6.64).

Thungela Resources Stock Up 7.0 %

The company has a quick ratio of 3.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of GBX 560.60 and a two-hundred day simple moving average of GBX 518.20. The stock has a market capitalization of £754.89 million, a P/E ratio of 540.48 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.