Rackla Metals (CVE:RAK) Reaches New 12-Month High - Should You Buy?

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 - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as C$0.95 and last traded at C$0.85, with a volume of 1694040 shares trading hands. The stock had previously closed at C$0.88.

Rackla Metals Price Performance

The stock has a market capitalization of C$156.76 million, a P/E ratio of -33.33 and a beta of -0.13. 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 stock has a 50-day simple moving average of C$0.66 and a 200 day simple moving average of C$0.39.

Insider Buying and Selling

In other news, insider Alejandro Emiliano Gubbins Cox acquired 500,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of C$0.64 per share, for a total transaction of C$320,000.00. In the last 90 days, insiders acquired 825,667 shares of company stock valued at $508,443. 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.