Tower Resources (LON:TRP) Stock Price Down 6.7% – Here’s Why

Tower Resources plc (LON:TRP)’s stock price dropped 6.7% during mid-day trading on Wednesday . The stock traded as low as GBX 0.03 and last traded at GBX 0.03. Approximately 126,829,445 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 135,328,938 shares. The stock had previously closed at GBX 0.03.

Tower Resources Stock Down 6.7%

The stock has a market cap of £9.04 million, a price-to-earnings ratio of -2.80 and a beta of 1.12. The firm has a 50 day simple moving average of GBX 0.03 and a two-hundred day simple moving average of 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.

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.