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

Rackla Metals Inc. (CVE:RAK) shares rose 23.1% during mid-day trading on Friday . The company traded as high as C$0.33 and last traded at C$0.32. Approximately 1,502,234 shares traded hands during mid-day trading, an increase of 353% from the average daily volume of 331,683 shares. The stock had previously closed at C$0.26.

Rackla Metals Stock Performance

The business has a fifty day moving average of C$0.23 and a 200-day moving average of C$0.16. 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$31.20 million, a P/E ratio of -4.57 and a beta of 1.45.

Insider Buying and Selling at Rackla Metals

In related news, insider Alejandro Emiliano Gubbins Cox sold 2,000,000 shares of Rackla Metals stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$0.26, for a total value of C$520,000.00. In the last three months, insiders have purchased 44,500 shares of company stock worth $6,380. Corporate 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.