Rackla Metals (CVE:RAK) Trading 18.8% Higher - Should You Buy?

Key Points

• Rackla Metals Inc. shares surged 18.8% during mid-day trading, reaching a high of C$0.83, with a trading volume increase of 17% compared to the average.
• Insider transactions showed mixed activity: Sally Whittall sold 40,000 shares, reducing her stake by 79.39%, while Alejandro Emiliano Gubbins Cox purchased 500,000 shares, indicating confidence in the company.
• The company operates in gold exploration in Canada, holding interests in the Rivier property and the Tombstone Gold Belt projects, with a market capitalization of C$122.27 million.

Rackla Metals Inc. (CVE:RAK - )'s stock price rose 18.8% during mid-day trading on Thursday . The company traded as high as C$0.83 and last traded at C$0.82. Approximately 679,512 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 582,737 shares. The stock had previously closed at C$0.69.

Rackla Metals Stock Up 13.0%

The stock has a market capitalization of C$122.27 million, a price-to-earnings ratio of -26.00 and a beta of -0.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93. The firm's fifty day moving average is C$0.73 and its 200-day moving average is C$0.45.

Insider Buying and Selling

In other Rackla Metals news, insider Sally Whittall sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of C$0.75, for a total transaction of C$30,000.00. Following the transaction, the insider owned 10,384 shares of the company's stock, valued at C$7,788. This trade represents a 79.39% decrease in their position. Also, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average price of C$0.64 per share, with a total value of C$320,000.00. Over the last three months, insiders bought 1,000,000 shares of company stock worth $685,000 and sold 90,000 shares worth $67,200. 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.

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