Rackla Metals (CVE:RAK) Trading 25.7% Higher - Time to Buy?

Key Points

• Rackla Metals Inc. experienced a significant stock price increase of 25.7%, reaching a high of C$0.91, with trading volume up by 330% from the average.
• 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 last quarter.
• The company has a market capitalization of C$121.09 million and is engaged in the acquisition and evaluation of gold exploration properties in Canada.

Shares of Rackla Metals Inc. (CVE:RAK - Get Free Report) traded up 25.7% on Saturday . The company traded as high as C$0.91 and last traded at C$0.88. 2,304,759 shares changed hands 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 Down 1.2%

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

Insider Buying and Selling at Rackla Metals

In related news, insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares of the company's stock in a transaction dated 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. In the last 90 days, insiders purchased 825,667 shares of company stock worth $508,443. 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.