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

Rackla Metals logo with Basic Materials background

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.
  • Five stocks to consider instead of Rackla Metals.

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 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 Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57. The business has a fifty day moving average of C$0.61 and a two-hundred day moving average of C$0.37. The firm has a market cap of C$121.09 million, a price-to-earnings ratio of -29.33 and a beta of -0.13.

Insider Transactions at Rackla Metals

In related news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of Rackla Metals stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average price of C$0.64 per share, with a total value of C$320,000.00. Over the last 90 days, insiders purchased 2,025,667 shares of company stock valued at $762,443. 13.48% of the stock is currently owned by corporate insiders.

About Rackla Metals

(Get Free Report)

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.

Further Reading

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