Rackla Metals (CVE:RAK) Shares Down 1.5% - Here's What Happened

Key Points

• Rackla Metals Inc. saw its share price decline by 1.5%, trading at C$0.64 after reaching a low of C$0.61 on Friday.
• Insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares at C$0.64, contributing to a total of 4,225,667 shares acquired by insiders valued at approximately $1.44 million in the last ninety days.
• The company has a comparatively strong current ratio of 4.57 and a market capitalization of C$60.46 million, but a negative P/E ratio of -8.86.

Shares of Rackla Metals Inc. (CVE:RAK - Get Free Report) dropped 1.5% during mid-day trading on Friday . The stock traded as low as C$0.61 and last traded at C$0.64. Approximately 632,836 shares traded hands during mid-day trading, an increase of 35% from the average daily volume of 468,422 shares. The stock had previously closed at C$0.65.

Rackla Metals Price Performance

The firm has a market capitalization of C$71.18 million, a P/E ratio of -10.43 and a beta of 1.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57. The firm has a 50-day moving average of C$0.49 and a 200-day moving average of C$0.31.

Insider Transactions at Rackla Metals

In other news, insider Alejandro Emiliano Gubbins Cox purchased 2,200,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of C$0.31 per share, with a total value of C$682,000.00. Over the last quarter, insiders purchased 4,225,667 shares of company stock valued at $1,444,443. Corporate 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.