Tower Resources (LON:TRP) Shares Up 9.5% – Still a Buy?

Tower Resources plc (LON:TRP) shares shot up 9.5% during trading on Monday . The company traded as high as GBX 0.02 and last traded at GBX 0.02. 56,310,539 shares changed hands during trading, a decline of 81% from the average session volume of 294,347,375 shares. The stock had previously closed at GBX 0.02.

Tower Resources Price Performance

The stock’s 50-day moving average is GBX 0.02 and its 200 day moving average is GBX 0.03. The stock has a market capitalization of £9.27 million, a PE ratio of -2.30 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.

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.