Tower Resources (LON:TRP) Sets New 1-Year Low – Time to Sell?

Shares of Tower Resources plc (LON:TRP) hit a new 52-week low during trading on Wednesday . The company traded as low as GBX 0.01 and last traded at GBX 0.01, with a volume of 119457672 shares traded. The stock had previously closed at GBX 0.02.

Tower Resources Trading Down 11.8%

The stock has a market capitalization of £6.42 million, a price-to-earnings ratio of -0.25 and a beta of 1.12. The business has a 50-day moving average of GBX 0.02 and a 200-day moving average of GBX 0.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.06 and a current ratio of 0.21.

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.