Rackla Metals (CVE:RAK) Shares Up 23.1% – Should You Buy?

Rackla Metals Inc. (CVE:RAK)’s stock price rose 23.1% on Wednesday . The company traded as high as C$0.16 and last traded at C$0.16. Approximately 203,260 shares traded 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 Stock Performance

The company has a 50 day moving average of C$0.11 and a 200 day moving average of C$0.10. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33. The firm has a market cap of C$15.60 million, a price-to-earnings 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 business’s stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average price of C$0.10 per share, for a total transaction 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.

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.