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

Thungela Resources Limited (OTCMKTS:TNGRF) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 5,200 shares, a decrease of 29.7% from the April 30th total of 7,400 shares. Based on an average daily volume of 7,000 shares, the days-to-cover ratio is currently 0.7 days.

Thungela Resources Price Performance

Shares of TNGRF traded down $0.13 during trading hours on Monday, reaching $5.05. The stock had a trading volume of 2,100 shares, compared to its average volume of 5,023. The firm has a 50-day simple moving average of $5.13 and a 200 day simple moving average of $6.22. Thungela Resources has a 12 month low of $4.46 and a 12 month high of $7.76.

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.