Is Thungela still a buy?


Simon Shares



Thungela Resources (JSE code: TGA) still a buy?

R60 dividend, 40% forward DY

HEPS 6723c, forward PE 2.5x

Mis-priced at listing, unbundling often cause this to happen.

Ukraine’s war gave it new legs.

Risks

  • Coal price
  • Rand strength
  • Ukraine war
  • Transnet

* I hold ungeared positions.


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