Rackla Metals (CVE:RAK) Stock Price Up 25.7% - Here's Why

Key Points

• Rackla Metals Inc. experienced a significant stock price increase of 25.7%, reaching a last traded price of C$0.88, following an increase in trading volume by 330% compared to the average daily volume.
• The company's current financial metrics include a debt-to-equity ratio of 0.33 and a market cap of C$121.09 million, indicating a solid financial position.
• Insider Alejandro Emiliano Gubbins Cox recently purchased 1.4 million shares at an average price of C$0.29, signaling confidence from company insiders, who collectively own 13.48% of the stock.

Rackla Metals Inc. (CVE:RAK - Get Free Report) shares 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 Performance

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 company has a market capitalization of C$128.54 million, a PE ratio of -27.33 and a beta of -0.13. The firm's 50-day simple moving average is C$0.65 and its 200-day simple moving average is C$0.39.

Insider Activity

In other news, insider Alejandro Emiliano Gubbins Cox acquired 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average price of C$0.76 per share, with a total value of C$152,000.00. Following the completion of the purchase, the insider directly owned 31,200,000 shares in the company, valued at C$23,712,000. This trade represents a 0.65% increase in their ownership of the stock. Insiders purchased a total of 825,667 shares of company stock valued at $508,443 in the last ninety days. 13.48% of the stock is currently owned by 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.