Thungela Resources (LON:TGA) Stock Price Down 1.8% – Here’s What Happened

Shares of Thungela Resources Limited (LON:TGA) dropped 1.8% during trading on Wednesday . The company traded as low as GBX 540 ($7.01) and last traded at GBX 540 ($7.01). Approximately 157,995 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 180,805 shares. The stock had previously closed at GBX 550 ($7.14).

Thungela Resources Stock Performance

The stock’s 50 day moving average price is GBX 493.04 and its 200 day moving average price is GBX 520.95. The company has a current ratio of 1.89, a quick ratio of 3.53 and a debt-to-equity ratio of 0.51. The firm has a market cap of £718.31 million, a PE ratio of 514.29 and a beta of -0.87.

Thungela Resources Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, October 7th. Stockholders of record on Thursday, September 19th were paid a GBX 8.60 ($0.11) dividend. This represents a dividend yield of 1.6%. The ex-dividend date was Thursday, September 19th. Thungela Resources’s dividend payout ratio is presently 1,619.05%.

About Thungela Resources

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.