Rackla Metals (CVE:RAK) Stock Price Up 24.6% - What's Next?

Key Points

• Rackla Metals Inc. saw a stock price increase of 24.6%, trading at C$0.86 during mid-day trading on Thursday, with trading volume significantly up at 1,687,454 shares compared to the average.
• The company has a strong financial position, indicated by a current ratio of 4.57 and a quick ratio of 6.93, despite having a negative PE ratio of -28.00.
• Insider transactions revealed a decrease in ownership, with insiders selling 80,000 shares on August 27, resulting in a 79.39% decrease in their holdings, while still owning 13.48% of the company's stock.

Rackla Metals Inc. (CVE:RAK - )'s stock price was up 24.6% during mid-day trading on Thursday . The stock traded as high as C$0.86 and last traded at C$0.86. Approximately 1,687,454 shares traded hands during trading, an increase of 186% from the average daily volume of 589,850 shares. The stock had previously closed at C$0.69.

Rackla Metals Trading Up 21.7%

The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of C$0.73 and a 200-day moving average price of C$0.45. The firm has a market capitalization of C$131.68 million, a PE ratio of -28.00 and a beta of -0.13.

Insider Transactions at Rackla Metals

In other Rackla Metals news, insider Kevin Bales sold 40,000 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of C$0.74, for a total value of C$29,600.00. Also, insider Sally Whittall sold 40,000 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of C$0.75, for a total transaction of C$30,000.00. Following the completion of the sale, the insider owned 10,384 shares of the company's stock, valued at C$7,788. This represents a 79.39% decrease in their ownership of the stock. Over the last three months, insiders acquired 1,000,000 shares of company stock worth $685,000 and sold 90,000 shares worth $67,200. Insiders own 13.48% of the company's stock.

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.

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