Rackla Metals (CVE:RAK) Shares Up 7.7% - Here's Why

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 - )'s stock price shot up 7.7% on Tuesday . The company traded as high as C$0.73 and last traded at C$0.70. 1,943,304 shares traded hands during trading, an increase of 301% from the average session volume of 484,364 shares. The stock had previously closed at C$0.65.

Rackla Metals Stock Up 7.7%

The stock's fifty day moving average is C$0.49 and its two-hundred day moving average is C$0.31. The stock has a market capitalization of C$68.26 million, a P/E ratio of -10.00 and a beta of 1.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93.

Insiders Place Their Bets

In related news, insider Alejandro Emiliano Gubbins Cox purchased 2,200,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of C$0.31 per share, with a total value of C$682,000.00. Over the last 90 days, insiders bought 4,225,667 shares of company stock valued at $1,444,443. 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.

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