Tower Resources (LON:TRP) Trading 10.7% Higher – Time to Buy?

Shares of Tower Resources plc (LON:TRP) traded up 10.7% on Wednesday . The stock traded as high as GBX 0.03 ($0.00) and last traded at GBX 0.03 ($0.00). 802,404,938 shares traded hands during mid-day trading, an increase of 100% from the average session volume of 401,189,156 shares. The stock had previously closed at GBX 0.03 ($0.00).

Tower Resources Stock Performance

The firm’s 50-day moving average price is GBX 0.03 and its 200-day moving average price is GBX 0.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.21 and a quick ratio of 0.06. The stock has a market cap of £5.03 million, a P/E ratio of -2.65 and a beta of 1.12.

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.