Tower Resources (CVE:TWR) Reaches New 1-Year Low – Here’s Why

Tower Resources Ltd. (CVE:TWR)’s share price hit a new 52-week low during trading on Thursday. The stock traded as low as C$0.12 and last traded at C$0.13, with a volume of 19,000 shares traded. The stock had previously closed at C$0.13.

Tower Resources Price Performance

The business has a 50 day simple moving average of C$0.15 and a 200 day simple moving average of C$0.16. The stock has a market cap of C$22.53 million, a PE ratio of -6.50 and a beta of 0.54.

Insiders Place Their Bets

In other news, insider Leah May Hodges sold 203,750 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of C$0.13, for a total value of C$26,487.50. 15.60% of the stock is currently owned by insiders.

About Tower Resources

Tower Resources Ltd. engages in the acquisition, evaluation, and exploration of mineral properties in Canada. The company primarily explores for gold, silver, and copper deposits. Its properties include the Rabbit North project that comprises 34 mineral tenures covering an area of 16,400 hectares located in the Kamloops mining division of British Columbia; the Nechako gold project, which includes 10 mineral tenures totaling 2,975 hectares situated in the Nechako Plateau Region of central British Columbia; and the More Creek project that consists of 5 mineral tenures totaling 6,430 hectares located in the Golden Triangle District of northwest British Columbia.