Rackla Metals (CVE:RAK) Trading 25.7% Higher - Should You Buy?

Key Points

• Rackla Metals Inc. experienced a significant share price increase of 25.7%, trading at C$0.88 after closing at C$0.70.
• The trading volume surged to 2,304,759 shares, a 330% increase from the average session volume.
• Insider Alejandro Emiliano Gubbins Cox purchased 1.4 million shares at an average price of C$0.29 each, contributing to a total insider purchase of 2,025,667 shares valued at C$762,443 over the past 90 days.

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s share price was up 25.7% during mid-day trading on Saturday . The stock 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 firm has a market capitalization of C$121.09 million, a P/E ratio of -29.33 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 firm's 50-day simple moving average is C$0.62 and its 200-day simple moving average is C$0.38.

Insider Transactions at Rackla Metals

In related news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was acquired at an average cost of C$0.64 per share, for a total transaction of C$320,000.00. Insiders have purchased 2,025,667 shares of company stock worth $762,443 in the last three months. Insiders own 13.48% of the company's stock.

About Rackla Metals

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.