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

Rackla Metals Inc. (CVE:RAK) shares were up 23.1% during trading on Thursday . 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 business has a 50-day simple moving average of C$0.11 and a 200 day simple moving average of 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 cap of C$15.60 million, a PE ratio of -2.29 and a beta of 1.45.

Insiders Place Their Bets

In other news, Director Simon T.P. Ridgway purchased 300,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average cost of C$0.10 per share, for a total transaction of C$30,000.00. In the last 90 days, insiders have bought 1,115,000 shares of company stock worth $116,700. Company insiders own 13.48% of the company’s stock.

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.