Rackla Metals (CVE:RAK) Stock Price Up 12.5% – Should You Buy?

Rackla Metals Inc. (CVE:RAK)’s stock price shot up 12.5% during trading on Wednesday . The company traded as high as C$0.09 and last traded at C$0.09. 1,012,000 shares were traded during mid-day trading, an increase of 177% from the average session volume of 365,883 shares. The stock had previously closed at C$0.08.

Rackla Metals Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93. The firm’s 50 day simple moving average is C$0.11 and its two-hundred day simple moving average is C$0.10. The firm has a market capitalization of C$10.24 million, a P/E ratio of -1.50 and a beta of 1.45.

Insider Buying and Selling

In other news, Director Simon T.P. Ridgway acquired 300,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was purchased at an average cost of C$0.10 per share, with a total value of C$30,000.00. Insiders have purchased a total of 1,393,500 shares of company stock worth $146,630 in the last ninety days. 13.48% of the stock is owned by 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.