Rackla Metals (CVE:RAK) Trading Up 25.7% - Here's What Happened

Key Points

• Rackla Metals Inc. (CVE:RAK) saw its stock price surge by 25.7% to C$0.88, with over 2.3 million shares traded, significantly higher than its average daily volume.
• The company has a market capitalization of C$121.09 million and a price-to-earnings ratio of -29.33, indicating potential challenges in profitability.
• Insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares at C$0.64 each, contributing to a total of 2,025,667 shares acquired by insiders in the last ninety days.

Shares of Rackla Metals Inc. (CVE:RAK - Get Free Report) rose 25.7% during mid-day trading on Saturday . The stock traded as high as C$0.91 and last traded at C$0.88. Approximately 2,304,759 shares traded hands during mid-day trading, an increase of 330% from the average daily volume of 536,433 shares. The stock had previously closed at C$0.70.

Rackla Metals Stock Down 2.3%

The firm has a market cap of C$118.34 million, a P/E ratio of -28.67 and a beta of -0.13. The company's 50-day simple moving average is C$0.61 and its 200 day simple moving average is C$0.37. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93.

Insider Buying and Selling at Rackla Metals

In related news, insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average cost of C$0.64 per share, with a total value of C$320,000.00. Insiders have purchased 2,025,667 shares of company stock worth $762,443 in the last 90 days. 13.48% of the stock is currently owned by corporate insiders.

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.