TGA - Thungela Resources Ltd

Sep 29, 2023 at 08:51 Twitter · Facebook

TGA share price on Johannesburg Stock Exchange

Thungela Resources Limited is a leading South African coal mining company focused exclusively on thermal coal production. As one of the largest pure-play producers and exporters of thermal coal in the country, based on aggregate coal reserves and marketable coal production, Thungela offers investors access to a high-quality thermal coal business with low cash cost and high-margin assets. South Africa is the fourth-largest producer of thermal coal globally, serving the growing power demand from India and other countries in South Asia, and potentially also the Middle East and North Africa. Thungela Resources thus focuses on exporting its thermal coal portfolio mainly to India and other developing countries in South Asia.

Thungela Resources Ltd was formed when the South African Thermal Coal Operations demerged from Anglo American and listed on the JSE and LSE in June 2021. The company owns interests in, and produces thermal coal predominantly from, seven collieries located in Mpumalanga, South Africa, namely, the Goedehoop, Greenside, Isibonelo, Khwezela, Zibulo, Mafube, and Rietvlei collieries, which consist of both underground and opencast mines. Thungela also holds a 50% interest in Phola, which owns and operates the Phola Coal Processing Plant, and a 23.22% indirect interest in Richards Bay Coal Terminal, one of the world’s leading coal export terminals, with an advanced 24-hour operation and a design capacity of 91 Mtpa.

Thungela Resources Ltd is listed on the Johannesburg Stock Exchange (JSE) since June 7th, 2021. Thungela Resources is traded on the JSE under the ticker symbol “TGA”. The International Securities Identification Number (ISIN) of JSE:TGA is ZAE000296554. Thungela Resources Ltd is currently the 68th most valuable stock on the JSE with a market capitalization of ZAR 23.7 billion, which is about 0.131% of the Johannesburg Stock Exchange equity market.

TGA Stock Market Performance

The current share price of Thungela Resources Ltd (TGA) is ZAR 170.96. TGA closed its last trading day (Thursday, September 28, 2023) at 169.04 ZAR per share on the Johannesburg Stock Exchange (JSE), recording a 7.4% gain over its previous closing price of 157.41 ZAR. Thungela Resources began the year with a share price of 286.66 ZAR but has since lost 41% off that price valuation, ranking it 367th on the JSE in terms of year-to-date performance. Shareholders’ fears may be allayed by the 11% increase of TGA share price since August 30th, which is 20th best on JSE.

Thungela Resources is the 104th most traded stock on the Johannesburg Stock Exchange over the past three months (Jun 30 - Sep 28, 2023). TGA has traded a total volume of 32.2 million shares—in 121,513 deals—valued at ZAR 4.7 billion over the period, with an average of 511,492 traded shares per session. A volume high of 2.92 million was achieved on September 15th, and a low of 165,687 on August 28th, for the same period. The table below details the last 10 trading days of activity of Thungela Resources on the Johannesburg Stock Exchange.

Profile of Thungela Resources Limited

Thungela Resources Limited was founded on January 5, 2021 and operates in the Oil & Gas sector, specifically, the Alternative Energy industry.

TGA Industrial Market Competitors

Thungela Resources Limited, issuers of the TGA stock on the Johannesburg Stock Exchange, have three market competitors who are also engaged in the Oil & Gas sector and/or Alternative Energy industry. The table below presents an overview of their market standing.

Index of African Stock Exchanges:

1. Botswana Stock Exchange
2. BRVM Stock Exchange
3. Ghana Stock Exchange
4. Johannesburg Stock Exchange
5. Lusaka Securities Exchange
6. Malawi Stock Exchange
7. Nairobi Securities Exchange
8. Nigerian Stock Exchange
9. Uganda Securities Exchange
10. Zimbabwe Stock Exchange