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

Key Points

• Rackla Metals Inc. experienced a significant increase in share price, trading up 25.7% to C$0.88 after closing at C$0.70, with trading volume rising by 330% compared to its average.
• The company boasts a market capitalization of C$121.09 million and has a notable current ratio of 4.57 indicating strong liquidity.
• Insider Alejandro Emiliano Gubbins Cox purchased 1,400,000 shares at C$0.29 per share, contributing to a total of 2,025,667 shares bought by insiders over the last three months.

Rackla Metals Inc. (CVE:RAK - Get Free Report) rose 25.7% on Saturday . The stock traded as high as C$0.91 and last traded at C$0.88. Approximately 2,304,759 shares were traded 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 Price Performance

The firm has a market cap of C$112.83 million, a PE ratio of -27.33 and a beta of -0.13. The firm has a fifty day simple moving average of C$0.62 and a two-hundred day simple moving average of C$0.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57.

Insider Activity

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