Tower Resources (LON:TRP) Reaches New 1-Year Low – Should You Sell?

Tower Resources plc (LON:TRP) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 0.02 and last traded at GBX 0.02, with a volume of 427172781 shares changing hands. The stock had previously closed at GBX 0.02.

Tower Resources Trading Down 9.5%

The company has a market cap of £7.66 million, a PE ratio of -0.32 and a beta of 1.12. The company has a quick ratio of 0.06, a current ratio of 0.21 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of GBX 0.02 and a 200-day simple moving average of GBX 0.03.

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.