Thungela Resources Stock Forecast

Stock Price Forecast

According to 4 analysts polled by S&P Global, Thungela Resources stock has a consensus rating of "Sell" and an average price target of ZAC 11,825. The average 1-year stock price forecast is 11.53% lower than the current stock price, while the lowest is ZAC 9,500 (-28.92%) and the highest is ZAC 18,000 (+34.67%).

Price Target: ZAC 11,825 (-11.53%)

Analyst Consensus: Sell

Target	Low	Average	Median	High
Price	ZAC 9,500	ZAC 11,825	ZAC 9,900	ZAC 18,000
Change	-28.92%	-11.53%	-25.93%	+34.67%

Analyst Ratings

The average analyst rating for Thungela Resources stock is "Sell". This means that analysts believe this stock is likely to lead to lower returns than market as a whole.

Recommendation Trends

Rating	Dec '25	Jan '26	Feb '26	Mar '26	Apr '26	May '26
Strong Buy	1	1	1	1	1	1
Buy	0	0	0	0	0	0
Hold	1	1	0	1	1	0
Sell	0	0	0	0	0	0
Strong Sell	2	2	3	2	2	3
Total	4	4	4	4	4	4

Financial Forecast

Revenue This Year

33.70B

from 29.60B

13.86%

from 29.60B

Revenue Next Year

32.40B

from 33.70B

-3.87%

from 33.70B

EPS This Year

32.23

from -6.47

EPS Next Year

14.94

from 32.23

-53.65%

from 32.23

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	26.28B	50.75B	30.63B	35.55B	29.60B	33.70B
Revenue Growth	600.85%	93.11%	-39.64%	16.06%	-16.75%	13.86%
Operating Income	8.74B	27.52B	6.64B	3.68B	-1.39B	1.97B
Net Income	6.43B	16.99B	5.16B	3.59B	-7.09B	1.89B
EPS	-	-	-	-	-6.47	32.23
Forward PE	1.94	2.11	4.90	6.81	203.22	4.15
Dividend / Share	18.00	100.00	20.00	13.00	4.00	3.83
Dividend Growth	-	455.56%	-80.00%	-35.00%	-69.23%	-4.17%
Free Cash Flow	-448.75M	16.35B	5.04B	362.13M	-777.88M	1.77B
No. Analysts	-	-	-	-	-	4

EPS and Forward PE are based on non-GAAP adjusted numbers. Financial currency is ZAR.

Revenue Forecast

Revenue	2026	2027	2028
High	36.7B
Avg	33.7B
Low	31.4B

Revenue Growth

Revenue Growth	2026	2027	2028
High	23.8%
Avg	13.9%
Low	6.0%

EPS Forecast

EPS	2026	2027	2028
High	-
Avg	32.23
Low	-

EPS Growth

EPS Growth	2026	2027	2028
High	-
Avg	-
Low	-