Rackla Metals (CVE:RAK) Shares Climb 16.2% – Here’s What Happened

Shares of Rackla Metals Inc. (CVE:RAK) traded up 16.2% during mid-day trading on Wednesday. The stock traded as high as C$0.21 and last traded at C$0.21. Approximately 111,845 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 374,600 shares. The stock had previously closed at C$0.18.

Rackla Metals Price Performance

The company has a fifty day simple moving average of C$0.26 and a two-hundred day simple moving average of C$0.18. The stock has a market capitalization of C$39.23 million, a price-to-earnings ratio of -5.38 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57.

Insider Transactions at Rackla Metals

In other news, insider Alejandro Emiliano Gubbins Cox bought 300,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of C$0.17 per share, with a total value of C$51,000.00. Following the acquisition, the insider directly owned 33,300,000 shares in the company, valued at C$5,661,000. This represents a 0.91% increase in their ownership of the stock. Insiders have bought 1,014,500 shares of company stock worth $171,215 in the last 90 days. Corporate 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. The company was incorporated in 2011 and is headquartered in Vancouver, Canada.