Rackla Metals (CVE:RAK) Trading 7.7% Higher - What's Next?

Key Points

• Rackla Metals Inc. shares increased by 7.7% on Tuesday, trading at C$0.70 after previously closing at C$0.65, with trading volume surging 301% compared to the average session.
• Insider Alejandro Emiliano Gubbins Cox bought 2.2 million shares at C$0.31 per share, contributing to over 4.2 million shares purchased by company insiders recently, which indicates significant confidence in the company's prospects.
• Rackla Metals is focused on gold exploration in Canada, holding interests in the Rivier property and projects in the Tombstone Gold Belt, highlighting its engagement in evaluating mineral properties.

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s share price was up 7.7% during mid-day trading on Tuesday . The company traded as high as C$0.73 and last traded at C$0.70. Approximately 1,943,304 shares were traded during mid-day trading, an increase of 301% from the average daily volume of 484,364 shares. The stock had previously closed at C$0.65.

Rackla Metals Trading Up 1.3%

The company has a market cap of C$77.03 million, a P/E ratio of -11.29 and a beta of 1.45. The stock's 50 day moving average is C$0.52 and its 200-day moving average is C$0.33. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33.

Insider Transactions at Rackla Metals

In other news, insider Alejandro Emiliano Gubbins Cox purchased 1,400,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were bought at an average price of C$0.29 per share, for a total transaction of C$406,000.00. In the last quarter, 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.