Rackla Metals (CVE:RAK) Shares Up 7.7% - Time to Buy?

Key Points

• Rackla Metals Inc. shares rose by 7.7% during trading, reaching a price of C$0.70, with approximately 477,977 shares traded.
• Insider Alejandro Emiliano Gubbins Cox purchased 2,200,000 shares at C$0.31 per share, with total insider acquisitions amounting to C$1.44 million in the last three months.
• The company's market capitalization is C$68.26 million, and it has a PE ratio of -10.00, indicating financial challenges in profitability metrics.

Shares of Rackla Metals Inc. (CVE:RAK - Get Free Report) traded up 7.7% on Tuesday . The stock traded as high as C$0.70 and last traded at C$0.70. 477,977 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 473,471 shares. The stock had previously closed at C$0.65.

Rackla Metals Stock Up 1.3%

The firm's 50 day moving average is C$0.52 and its two-hundred day moving average is C$0.33. The stock has a market cap of C$77.03 million, a price-to-earnings ratio of -11.29 and a beta of 1.45. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33.

Insiders Place Their Bets

In other news, insider Alejandro Emiliano Gubbins Cox bought 1,400,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was purchased at an average price of C$0.29 per share, with a total value of C$406,000.00. Over the last three months, insiders have bought 2,025,667 shares of company stock valued at $762,443. 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.