Rackla Metals (CVE:RAK) Shares Up 25.7% - Should You Buy?

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% on Saturday . The company traded as high as C$0.91 and last traded at C$0.88. Approximately 2,304,759 shares changed hands during 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 1.2%

The firm has a 50-day moving average of C$0.65 and a two-hundred day moving average of C$0.39. The stock has a market capitalization of C$128.54 million, a price-to-earnings ratio of -27.33 and a beta of -0.13. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33.

Insiders Place Their Bets

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of C$0.64 per share, for a total transaction of C$320,000.00. Over the last 90 days, insiders bought 825,667 shares of company stock worth $508,443. 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.