Rackla Metals (CVE:RAK) Trading 23.1% Higher – Here’s What Happened

Shares of Rackla Metals Inc. (CVE:RAK) shot up 23.1% during mid-day trading on Thursday . The company traded as high as C$0.16 and last traded at C$0.16. 203,260 shares were traded during trading, an increase of 11% from the average session volume of 183,782 shares. The stock had previously closed at C$0.13.

Rackla Metals Stock Performance

The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of C$15.60 million, a price-to-earnings ratio of -2.29 and a beta of 1.45. The stock’s 50-day moving average is C$0.12 and its 200-day moving average is C$0.10.

Insiders Place Their Bets

In other Rackla Metals news, Director Simon T.P. Ridgway bought 300,000 shares of Rackla Metals stock in a transaction on Wednesday, January 8th. The shares were purchased at an average cost of C$0.10 per share, with a total value of C$30,000.00. Insiders have acquired 1,115,000 shares of company stock valued at $116,700 in the last ninety days. 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.