Rackla Metals (CVE:RAK) Shares Down 6.7% – Here’s Why

Shares of Rackla Metals Inc. (CVE:RAK) traded down 6.7% during trading on Thursday . The company traded as low as C$0.14 and last traded at C$0.14. 5,500 shares were traded during mid-day trading, a decline of 97% from the average session volume of 219,102 shares. The stock had previously closed at C$0.15.

Rackla Metals Price Performance

The business’s 50 day moving average price is C$0.11 and its 200 day moving average price is C$0.10. The stock has a market capitalization of C$13.65 million, a P/E ratio of -2.00 and a beta of 1.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93.

Insider Transactions at Rackla Metals

In related news, Director Simon T.P. Ridgway purchased 300,000 shares of Rackla Metals stock in a transaction dated 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 1,090,000 shares of company stock worth $113,325 over the last three months. 13.48% of the stock is currently owned by company 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.