Rackla Metals (CVE:RAK) Shares Up 7.8% - Here's Why

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s share price rose 7.8% during mid-day trading on Thursday . The stock traded as high as C$0.55 and last traded at C$0.55. Approximately 328,656 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 402,215 shares. The stock had previously closed at C$0.51.

Rackla Metals Stock Up 1.8%

The firm has a fifty day simple moving average of C$0.33 and a 200-day simple moving average of C$0.22. The company has a market capitalization of C$56.56 million, a P/E ratio of -8.29 and a beta of 1.45. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33.

Insider Activity

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox purchased 125,667 shares of the stock in a transaction on Monday, June 16th. The stock was bought at an average cost of C$0.29 per share, for a total transaction of C$36,443.43. Insiders bought 3,725,667 shares of company stock valued at $1,124,443 in the last ninety days. 13.48% of the stock is owned by corporate insiders.

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.