Added to YB: 2026-04-29
Pitch date: 2026-04-27
TGA.L [bullish]
Thungela Resources Limited
+1.66%
current return
Author Info
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Company Info
Thungela Resources Limited engages in the mining and production of thermal coal in South Africa and Australia.
Market Cap
ZAR 17.0B
Pitch Price
ZAR 138.21
Price Target
N/A
Dividend
2.99%
EV/EBITDA
7.29
P/E
-2.45
EV/Sales
0.38
Sector
Oil, Gas and Consumable Fuels
Category
turnaround
Thungela Cats are on the loose (again)
TGA.L: Back in at 595p after 75.7% gain selling at 650p. Coal demand surging: Japan +33% power gen, Thailand/S.Korea restarting plants post-Hormuz crisis. Indonesia cut production 25% to 600Mt, Russia -7.5%, US at 60yr lows. Price $130/t vs $89 avg in 2025. R8.8bn impairment overly conservative on Rand/price assumptions; new low-cost SA mines drive costs down 10% in 2027. Consensus 80-84p EPS in 2026-27 = <8x P/E. Potential 40% annual dividend if repeats 2022-23 yields. Risks: coal price volatility, Transnet logistics, FX headwinds.
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