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

Rackla Metals Inc. (CVE:RAK) shares rose 23.1% during trading on Thursday . The company traded as high as C$0.16 and last traded at C$0.16. Approximately 203,260 shares changed hands during mid-day 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 Stock Up 23.1 %

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

Insiders Place Their Bets

In other Rackla Metals news, Director Simon T.P. Ridgway purchased 300,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of C$0.10 per share, with a total value of C$30,000.00. Insiders have acquired a total of 1,115,000 shares of company stock valued at $116,700 over the last 90 days. 13.48% of the stock is currently owned by 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.