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

Rackla Metals Inc. (CVE:RAK)’s share price rose 23.1% during mid-day 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 stock has a market cap of C$15.60 million, a price-to-earnings ratio of -2.29 and a beta of 1.45. 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 company has a 50 day simple moving average of C$0.12 and a 200 day simple moving average of C$0.10.

Insider Buying and Selling

In other news, Director Simon T.P. Ridgway acquired 300,000 shares of Rackla Metals stock in a transaction that occurred on 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. Insiders purchased a total of 1,115,000 shares of company stock worth $116,700 in the last three months. 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.