Rackla Metals (CVE:RAK) Trading 20.3% Higher - Still a Buy?

Key Points

• Rackla Metals Inc. (CVE:RAK) experienced a significant trading increase of 20.3%, closing at C$0.83, with a trading volume rise of 167% compared to its average session volume.
• The company's market capitalization stands at C$134.82 million and it has a PE ratio of -28.67, indicating financial challenges.
• Recent insider activities include purchasing 1,000,000 shares worth C$685,000, reflecting confidence from executives despite recent stock sales.

Rackla Metals Inc. (CVE:RAK - ) traded up 20.3% during trading on Thursday . The stock traded as high as C$0.83 and last traded at C$0.83. 1,573,183 shares were traded during trading, an increase of 167% from the average session volume of 589,001 shares. The stock had previously closed at C$0.69.

Rackla Metals Price Performance

The stock has a market capitalization of C$134.82 million, a PE ratio of -28.67 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. The stock's 50 day moving average price is C$0.73 and its 200-day moving average price is C$0.45.

Insider Activity

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares of the business's stock in a transaction that occurred on 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. Also, insider Kevin Bales sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of C$0.74, for a total value of C$29,600.00. Over the last 90 days, insiders have purchased 1,000,000 shares of company stock worth $685,000 and have sold 90,000 shares worth $67,200. Corporate 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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