Rackla Metals (CVE:RAK) Shares Up 23.1% – 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 stock’s 50-day moving average price is C$0.11 and its 200-day moving average price is C$0.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57. The company has a market capitalization of C$15.60 million, a price-to-earnings ratio of -2.29 and a beta of 1.45.

Insider Activity

In other Rackla Metals news, Director Simon T.P. Ridgway acquired 300,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of C$0.10 per share, with a total value of C$30,000.00. In the last three months, insiders purchased 1,115,000 shares of company stock worth $116,700. Company insiders own 13.48% of the company’s stock.

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.