Tower Resources (CVE:TWR) Stock Price Up 8.3% – Here’s Why

Shares of Tower Resources Ltd. (CVE:TWR) shot up 8.3% during trading on Friday . The stock traded as high as C$0.14 and last traded at C$0.13. 40,649 shares were traded during mid-day trading, a decline of 56% from the average session volume of 91,858 shares. The stock had previously closed at C$0.12.

Tower Resources Price Performance

The stock has a market cap of C$20.25 million, a price-to-earnings ratio of -280.00 and a beta of 0.58. The stock’s 50 day simple moving average is C$0.10 and its two-hundred day simple moving average is C$0.10.

Tower Resources Company Profile

Tower Resources Ltd. engages in the acquisition, evaluation, and exploration of mineral properties in Canada. The company primarily explores for gold, silver, and copper deposits. Its properties include the Rabbit North project that comprises 34 mineral tenures covering an area of 16,400 hectares located in the Kamloops mining division of British Columbia; the Nechako gold project, which includes 10 mineral tenures totaling 2,975 hectares situated in the Nechako Plateau Region of central British Columbia; and the More Creek project that consists of 5 mineral tenures totaling 6,430 hectares located in the Golden Triangle District of northwest British Columbia.