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

Rackla Metals Inc. (CVE:RAK)’s share price was up 23.1% during mid-day trading on Wednesday . The company 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 23.1 %

The stock has a market capitalization of C$15.60 million, a PE ratio of -2.29 and a beta of 1.45. 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 company’s 50 day moving average price is C$0.11 and its two-hundred day moving average price is C$0.10.

Insider Activity

In other news, Director Simon T.P. Ridgway acquired 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average cost of C$0.10 per share, for a total transaction of C$30,000.00. Insiders purchased 1,115,000 shares of company stock worth $116,700 over the last ninety days. Corporate 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.