Rackla Metals (CVE:RAK) Shares Up 25.7% - Still a Buy?

Key Points

• Rackla Metals Inc. shares surged by 25.7% during mid-day trading, with the stock reaching a high of C$0.91 before closing at C$0.88.
• Insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares at an average price of C$0.64, contributing to a total of 2,025,667 shares bought by insiders over the past ninety days.
• The company, focused on gold exploration in Canada, currently holds a market cap of C$121.09 million and has a low debt-to-equity ratio of 0.33.

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s share price shot up 25.7% during mid-day trading on Saturday . The stock traded as high as C$0.91 and last traded at C$0.88. 2,304,759 shares traded hands during mid-day trading, an increase of 330% from the average session volume of 536,433 shares. The stock had previously closed at C$0.70.

Rackla Metals Stock Performance

The firm's fifty day moving average price is C$0.65 and its 200-day moving average price is C$0.39. 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 firm has a market cap of C$128.54 million, a price-to-earnings ratio of -27.33 and a beta of -0.13.

Insider Transactions at Rackla Metals

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox acquired 500,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were bought 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 acquired 825,667 shares of company stock worth $508,443. Company insiders own 13.48% of the company's stock.

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.