Rackla Metals (CVE:RAK) Trading 12.5% Higher – Here’s Why

Rackla Metals Inc. (CVE:RAK) shares shot up 12.5% on Wednesday . The stock traded as high as C$0.09 and last traded at C$0.09. 970,000 shares traded hands during mid-day trading, an increase of 203% from the average session volume of 319,883 shares. The stock had previously closed at C$0.08.

Rackla Metals Stock Up 5.0 %

The firm’s 50-day simple moving average is C$0.11 and its two-hundred day simple moving average is C$0.10. The stock has a market cap of C$10.24 million, a price-to-earnings ratio of -1.50 and a beta of 1.45. 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 Activity at Rackla Metals

In other news, Director Simon T.P. Ridgway acquired 300,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average cost of C$0.10 per share, for a total transaction of C$30,000.00. Insiders purchased a total of 1,393,500 shares of company stock valued at $146,630 over the last quarter. Corporate insiders own 13.48% of the company’s stock.

Rackla Metals Company Profile

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.