Tower Resources (LON:TRP) Trading 8% Higher – Time to Buy?

Shares of Tower Resources plc (LON:TRP) traded up 8% during mid-day trading on Friday . The company traded as high as GBX 0.03 and last traded at GBX 0.03. 900,983,625 shares traded hands during trading, an increase of 346% from the average session volume of 201,808,453 shares. The stock had previously closed at GBX 0.03.

Tower Resources Stock Up 12.0%

The business has a 50 day moving average price of GBX 0.03 and a 200 day moving average price of GBX 0.03. The firm has a market capitalization of £9.04 million, a P/E ratio of -2.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.21 and a quick ratio of 0.06.

Tower Resources Company Profile

Tower Resources is an African-focused energy company advancing its operation in Cameroon towards production and cash flow, and de-risking attractive exploration licenses in the emerging oil and gas provinces of Namibia and South Africa, where world-class discoveries have recently been made.

The Company’s strategy is to build a balanced portfolio of energy opportunities in Africa across the exploration and production cycle in oil and gas and beyond, in stable jurisdictions that the Company knows well and that offer excellent fiscal terms.