Rackla Metals (CVE:RAK) Stock Price Up 16.7% – Here’s Why

Rackla Metals Inc. (CVE:RAK)’s share price shot up 16.7% during mid-day trading on Thursday . The stock traded as high as C$0.12 and last traded at C$0.11. 466,000 shares were traded during trading, an increase of 22% from the average session volume of 380,891 shares. The stock had previously closed at C$0.09.

Rackla Metals Stock Up 5.0 %

The stock has a 50 day moving average price of C$0.11 and a 200 day moving average price of C$0.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57. The company has a market capitalization of C$10.24 million, a P/E ratio of -1.50 and a beta of 1.45.

Insiders Place Their Bets

In other news, Director Simon T.P. Ridgway purchased 300,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average price of C$0.10 per share, with a total value of C$30,000.00. Over the last 90 days, insiders have purchased 1,393,500 shares of company stock valued at $146,630. 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.