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

Key Points

• Rackla Metals Inc. shares surged by 25.7%, trading as high as C$0.91, with over 2 million shares exchanged during a trading session that saw a 330% increase in volume from the average.
• The company has a market capitalization of C$121.09 million and a price-to-earnings ratio of -29.33, indicating it may be operating at a loss.
• Insider Alejandro Emiliano Gubbins Cox purchased 1.4 million shares at C$0.29 each, reflecting continued confidence by insiders, who hold 13.48% of the company's stock.

Shares of Rackla Metals Inc. (CVE:RAK - Get Free Report) shot up 25.7% on Saturday . The stock traded as high as C$0.91 and last traded at C$0.88. 2,304,759 shares traded 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 2.8%

The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57. The firm's 50-day moving average is C$0.62 and its two-hundred day moving average is C$0.38. The stock has a market cap of C$117.65 million, a P/E ratio of -28.50 and a beta of -0.13.

Insider Activity at Rackla Metals

In other Rackla Metals 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 bought at an average price of C$0.64 per share, for a total transaction of C$320,000.00. 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.