Rackla Metals (CVE:RAK) Shares Up 13.8% - Here's Why

Key Points

• Rackla Metals Inc. stock surged by 13.8% on Monday, reaching a high of C$0.75 after closing previous at C$0.65, with trading volume increasing significantly to over 1.1 million shares.
• The company's market capitalization stands at C$66.31 million and it has reported a P/E ratio of -9.71, indicating a potentially undervalued stock situation.
• Insiders have been actively purchasing shares, with over 3.7 million shares acquired in the last three months, suggesting confidence in the company's future prospects.

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s stock price was up 13.8% during mid-day trading on Monday . The stock traded as high as C$0.75 and last traded at C$0.74. Approximately 1,114,685 shares traded hands during trading, an increase of 145% from the average daily volume of 455,314 shares. The stock had previously closed at C$0.65.

Rackla Metals Stock Down 1.5%

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 business has a 50 day simple moving average of C$0.40 and a 200 day simple moving average of C$0.26. The stock has a market cap of C$63.38 million, a PE ratio of -9.29 and a beta of 1.45.

Insider Activity

In related news, insider Alejandro Emiliano Gubbins Cox purchased 125,667 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of C$0.29 per share, for a total transaction of C$36,443.43. Over the last three months, insiders have acquired 3,725,667 shares of company stock valued at $1,124,443. 13.48% of the stock is currently owned by insiders.

About Rackla Metals

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.