Rackla Metals (CVE:RAK) Hits New 52-Week High - Here's Why

Key Points

• Rackla Metals Inc. reached a new 52-week high of C$0.95 and closed at C$0.85, with a trading volume of over 1.6 million shares.
• Insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares at an average cost of C$0.64, indicating confidence in the company's growth.
• The company, focused on gold exploration in Canada, holds a 100% interest in the Rivier property and projects in the Tombstone Gold Belt.

Rackla Metals Inc. (CVE:RAK - ) hit a new 52-week high on Monday . The company traded as high as C$0.95 and last traded at C$0.85, with a volume of 1694040 shares. The stock had previously closed at C$0.88.

Rackla Metals Stock Performance

The stock has a market capitalization of C$121.09 million, a price-to-earnings ratio of -29.33 and a beta of -0.13. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33. The stock's 50 day moving average is C$0.61 and its two-hundred day moving average is C$0.37.

Insider Buying and Selling

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of C$0.64 per share, with a total value of C$320,000.00. Over the last quarter, insiders have bought 2,025,667 shares of company stock worth $762,443. 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.

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