Rackla Metals (CVE:RAK) Stock Price Up 23.1% – Here’s Why

Shares of Rackla Metals Inc. (CVE:RAK) shot up 23.1% during trading on Thursday . The company traded as high as C$0.16 and last traded at C$0.16. 203,260 shares changed hands during mid-day 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 Trading Up 23.1 %

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 current ratio of 4.57 and a quick ratio of 6.93. The firm has a market capitalization of C$15.60 million, a PE ratio of -2.29 and a beta of 1.45.

Insider Buying and Selling

In other Rackla Metals news, Director Simon T.P. Ridgway acquired 300,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was bought at an average cost of C$0.10 per share, with a total value of C$30,000.00. Insiders have bought a total of 1,115,000 shares of company stock valued at $116,700 over the last quarter. 13.48% of the stock is owned by corporate 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.