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

Key Points

• Rackla Metals Inc. saw its stock price increase by 25.7%, rising from C$0.70 to a high of C$0.91 during mid-day trading.
• The company experienced a significant surge in trading volume, with 2,304,759 shares traded, marking a 330% increase compared to its average session volume.
• Insider Alejandro Emiliano Gubbins Cox purchased 1,400,000 shares at C$0.29 each, contributing to a total of 2,025,667 shares bought by insiders in the last ninety days.

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

Rackla Metals Stock Performance

The stock has a fifty day moving average of C$0.65 and a 200-day moving average of C$0.39. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33. The stock has a market cap of C$128.54 million, a PE ratio of -27.33 and a beta of -0.13.

Insiders Place Their Bets

In other news, insider Alejandro Emiliano Gubbins Cox acquired 500,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of C$0.64 per share, with a total value of C$320,000.00. In the last 90 days, insiders have acquired 825,667 shares of company stock valued at $508,443. Company 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.