Rackla Metals (CVE:RAK) Stock Price Up 23.1% – Should You Buy?

Rackla Metals Inc. (CVE:RAK)’s share price rose 23.1% during mid-day trading on Wednesday . The company traded as high as C$0.16 and last traded at C$0.16. Approximately 203,260 shares traded 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 Trading Up 23.1 %

The stock has a market cap of C$15.60 million, a price-to-earnings ratio of -2.29 and a beta of 1.45. The business has a 50-day simple moving average of C$0.11 and a two-hundred day simple moving average 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.

Insider Activity

In other Rackla Metals news, Director Simon T.P. Ridgway acquired 300,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average cost of C$0.10 per share, with a total value of C$30,000.00. Insiders bought a total of 1,115,000 shares of company stock valued at $116,700 in the last quarter. 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.