Rackla Metals (CVE:RAK) Hits New 1-Year High – Here’s Why

Rackla Metals Inc. (CVE:RAK)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$0.23 and last traded at C$0.23, with a volume of 865031 shares. The stock had previously closed at C$0.21.

Rackla Metals Price Performance

The company has a fifty day simple moving average of C$0.14 and a 200-day simple moving average of C$0.12. The company has a market cap of C$21.45 million, a P/E ratio of -3.14 and a beta of 1.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93.

Insider Buying and Selling

In other news, Director Simon T.P. Ridgway bought 300,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was bought at an average cost of C$0.10 per share, for a total transaction of C$30,000.00. Insiders have purchased 744,500 shares of company stock worth $70,880 in the last three months. 13.48% of the stock is currently owned by insiders.

About Rackla Metals

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.