Rackla Metals (CVE:RAK) Shares Up 23.1% – Still a Buy?

Rackla Metals Inc. (CVE:RAK)’s share price shot up 23.1% on Thursday . The company traded as high as C$0.16 and last traded at C$0.16. 203,260 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 183,782 shares. The stock had previously closed at C$0.13.

Rackla Metals Stock Up 23.1 %

The business’s fifty day moving average price is C$0.11 and its 200 day moving average price is C$0.10. The company has a market capitalization of C$15.60 million, a P/E ratio of -2.29 and a beta of 1.45. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33.

Insider Buying and Selling

In related news, Director Simon T.P. Ridgway acquired 300,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of C$0.10 per share, for a total transaction of C$30,000.00. Insiders bought 1,115,000 shares of company stock worth $116,700 in the last quarter. 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.