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

Rackla Metals Inc. (CVE:RAK)’s stock price rose 23.1% on Thursday . The stock traded as high as C$0.16 and last traded at C$0.16. Approximately 203,260 shares traded hands during 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 Trading Up 6.7 %

The stock’s 50-day simple moving average is C$0.12 and its two-hundred day simple moving average 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 P/E ratio of -2.29 and a beta of 1.45.

Insider Buying and Selling

In other Rackla Metals news, Director Simon T.P. Ridgway purchased 300,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were acquired at an average cost of C$0.10 per share, with a total value of C$30,000.00. In the last quarter, insiders bought 1,115,000 shares of company stock valued at $116,700. Company insiders own 13.48% of the company’s stock.

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.