Rackla Metals (CVE:RAK) Shares Up 16.7% – Here’s Why

Rackla Metals Inc. (CVE:RAK)’s share price traded up 16.7% during trading on Thursday . The stock traded as high as C$0.12 and last traded at C$0.11. 466,000 shares traded hands during trading, an increase of 22% from the average session volume of 380,891 shares. The stock had previously closed at C$0.09.

Rackla Metals Stock Performance

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’s 50 day simple moving average is C$0.11 and its 200 day simple moving average is C$0.10. The stock has a market cap of C$10.24 million, a price-to-earnings ratio of -1.50 and a beta of 1.45.

Insiders Place Their Bets

In related news, Director Simon T.P. Ridgway acquired 300,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average price of C$0.10 per share, with a total value of C$30,000.00. Insiders bought a total of 1,393,500 shares of company stock worth $146,630 over the last ninety days. 13.48% of the stock is currently owned by company insiders.

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.