Tower Resources (LON:TRP) Stock Passes Above 200 Day Moving Average – What’s Next?
by Danessa Lincoln · The Markets DailyTower Resources plc (LON:TRP – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 0.03 and traded as high as GBX 0.03. Tower Resources shares last traded at GBX 0.03, with a volume of 637,457,625 shares trading hands.
Tower Resources Stock Performance
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 firm has a 50 day moving average of GBX 0.03 and a 200-day moving average of GBX 0.03. The company has a market cap of £8.88 million, a P/E ratio of -2.75 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.