Rackla Metals (CVE:RAK) Shares Up 23.1% – Here’s What Happened

Rackla Metals Inc. (CVE:RAK)’s stock price was up 23.1% during trading on Thursday . The stock traded as high as C$0.16 and last traded at C$0.16. Approximately 203,260 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 183,782 shares. The stock had previously closed at C$0.13.

Rackla Metals Price Performance

The business has a fifty day moving average of C$0.12 and a 200 day moving average of C$0.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93. The stock has a market cap of C$15.60 million, a PE ratio of -2.29 and a beta of 1.45.

Insider Activity

In related news, Director Simon T.P. Ridgway bought 300,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average price of C$0.10 per share, with a total value of C$30,000.00. In the last three months, insiders acquired 1,115,000 shares of company stock worth $116,700. 13.48% of the stock is currently owned by insiders.

Rackla Metals Company Profile

Rackla Metals Inc, a junior gold exploration company, engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company holds a 100% interest in the Rivier property located in the Watson Lake Mining District, Yukon. It also holds interests in the Tombstone Gold Belt projects situated in Yukon and Northwest Territories.