Thungela Resources (LON:TGA) Shares Up 4.9% – Time to Buy?

Thungela Resources Limited (LON:TGA)’s stock price shot up 4.9% on Friday . The company traded as high as GBX 578.50 ($7.29) and last traded at GBX 565.72 ($7.13). 98,549 shares were traded during mid-day trading, a decline of 44% from the average session volume of 176,207 shares. The stock had previously closed at GBX 539.50 ($6.80).

Thungela Resources Stock Performance

The company has a market cap of £759.54 million, a P/E ratio of 538.78 and a beta of -0.87. 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 company’s 50-day moving average is GBX 511.47 and its two-hundred day moving average is GBX 518.81.

Thungela Resources Cuts Dividend

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

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.