Tower Resources (LON:TRP) Shares Up 7.1% – Still a Buy?

Tower Resources plc (LON:TRP)’s share price shot up 7.1% during mid-day trading on Friday . The company traded as high as GBX 0.03 ($0.00) and last traded at GBX 0.03 ($0.00). 281,988,781 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 468,700,406 shares. The stock had previously closed at GBX 0.03 ($0.00).

Tower Resources Stock Up 7.1 %

The business’s 50 day moving average is GBX 0.03 and its 200-day moving average is GBX 0.02. The stock has a market cap of £5.39 million, a price-to-earnings ratio of -2.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.06 and a current ratio of 0.21.

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.