Tower Resources (LON:TRP) Hits New 52-Week Low – Time to Sell?

Shares of Tower Resources plc (LON:TRP) hit a new 52-week low on Tuesday . The stock traded as low as GBX 0.02 and last traded at GBX 0.02, with a volume of 92595875 shares changing hands. The stock had previously closed at GBX 0.02.

Tower Resources Price Performance

The stock has a market cap of £7.66 million, a P/E ratio of -0.32 and a beta of 1.12. The company has a quick ratio of 0.06, a current ratio of 0.21 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of GBX 0.02 and a two-hundred day simple moving average of GBX 0.03.

About Tower Resources

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.