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

Rackla Metals Inc. (CVE:RAK)’s share price shot 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 changed 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 Stock Performance

The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of C$0.12 and a two-hundred day moving average price of C$0.10. The stock has a market cap of C$15.60 million, a P/E ratio of -2.29 and a beta of 1.45.

Insiders Place Their Bets

In other news, Director Simon T.P. Ridgway bought 300,000 shares of Rackla Metals stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average cost of C$0.10 per share, with a total value of C$30,000.00. Insiders acquired 1,115,000 shares of company stock worth $116,700 in the last three months. 13.48% of the stock is owned by company insiders.

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.