Rackla Metals (CVE:RAK) Shares Up 25.7% - Time to Buy?

Key Points

• Rackla Metals Inc. shares surged 25.7% during trading, reaching as high as C$0.91, significantly increasing trading volume by 330% compared to the average session.
• The company has a market capitalization of C$121.09 million, with a PE ratio of -29.33 and substantial liquidity indicated by a quick ratio of 6.93.
• Insider Alejandro Emiliano Gubbins Cox purchased 1.4 million shares at C$0.29 each, contributing to a total of 2,025,667 shares bought by insiders in the past 90 days.

Shares of Rackla Metals Inc. (CVE:RAK - ) shot up 25.7% during mid-day trading on Saturday . The company 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 Price Performance

The business's 50-day simple moving average is C$0.61 and its 200-day simple moving average is C$0.37. The stock has a market cap of C$121.09 million, a PE ratio of -29.33 and a beta of -0.13. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33.

Insider Activity

In other news, insider Alejandro Emiliano Gubbins Cox acquired 1,400,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were purchased at an average price of C$0.29 per share, for a total transaction of C$406,000.00. Insiders have bought a total of 2,025,667 shares of company stock valued at $762,443 in the last 90 days. 13.48% of the stock is currently 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.

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