Rackla Metals (CVE:RAK) Stock Price Up 25.7% - What's Next?

Key Points

• Rackla Metals Inc. has seen a substantial 25.7% increase in its stock price, reaching C$0.88 with a trading volume spike of 330% compared to its average.
• Insider Alejandro Emiliano Gubbins Cox bought 500,000 shares at an average price of C$0.64, contributing to a total of over 2 million shares purchased by insiders in the past 90 days.
• The company, engaged in gold exploration in Canada, holds a 100% interest in the Rivier property and additional projects in Yukon and Northwest Territories.

Rackla Metals Inc. (CVE:RAK - Get Free Report) shot up 25.7% during trading on Saturday . The stock 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 Price Performance

The company's fifty day moving average is C$0.62 and its 200 day moving average is C$0.38. 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$116.96 million, a PE ratio of -28.33 and a beta of -0.13.

Insider Activity

In related news, insider Alejandro Emiliano Gubbins Cox purchased 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was acquired at an average price of C$0.76 per share, for a total transaction of C$152,000.00. Following the completion of the purchase, the insider owned 31,200,000 shares in the company, valued at approximately C$23,712,000. This represents a 0.65% increase in their ownership of the stock. Insiders have acquired a total of 825,667 shares of company stock valued at $508,443 in the last three months. 13.48% of the stock is currently owned by insiders.

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.