Rackla Metals (CVE:RAK) Stock Price Down 1.5% - Time to Sell?

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.

Rackla Metals Inc. (CVE:RAK - )'s share price fell 1.5% on Friday . The stock traded as low as C$0.61 and last traded at C$0.64. 632,836 shares changed hands during mid-day trading, an increase of 35% from the average session volume of 468,422 shares. The stock had previously closed at C$0.65.

Rackla Metals Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93. The firm has a market capitalization of C$60.46 million, a P/E ratio of -8.86 and a beta of 1.45. The firm's 50 day simple moving average is C$0.47 and its two-hundred day simple moving average is C$0.30.

Insiders Place Their Bets

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was acquired at an average cost of C$0.64 per share, with a total value of C$320,000.00. Insiders have acquired 4,225,667 shares of company stock valued at $1,444,443 over the last ninety days. 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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