Rackla Metals (CVE:RAK) Trading 23.1% Higher – Still a Buy?

Rackla Metals Inc. (CVE:RAK) rose 23.1% during trading on Thursday . The company traded as high as C$0.16 and last traded at C$0.16. Approximately 203,260 shares changed hands during 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 Price Performance

The stock has a 50 day moving average of C$0.11 and a two-hundred day 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. The firm has a market capitalization of C$15.60 million, a P/E ratio of -2.29 and a beta of 1.45.

Insider Activity

In other news, Director Simon T.P. Ridgway purchased 300,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was bought at an average cost of C$0.10 per share, for a total transaction of C$30,000.00. Insiders have bought a total of 1,115,000 shares of company stock valued at $116,700 over the last 90 days. 13.48% of the stock is currently owned by company insiders.

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.