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

Shares of Rackla Metals Inc. (CVE:RAK) traded up 23.1% during trading on Thursday . The stock traded as high as C$0.16 and last traded at C$0.16. 203,260 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 183,782 shares. The stock had previously closed at C$0.13.

Rackla Metals Price Performance

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 current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33. The company’s 50 day simple moving average is C$0.11 and its 200 day simple moving average is C$0.10.

Insiders Place Their Bets

In other news, Director Simon T.P. Ridgway bought 300,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was purchased at an average cost of C$0.10 per share, with a total value of C$30,000.00. In the last three months, insiders bought 1,115,000 shares of company stock valued at $116,700. Company 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.