Rackla Metals (CVE:RAK) Trading 25.7% Higher - Still a Buy?

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.

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s stock price was up 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 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 Down 1.2%

The firm has a market cap of C$128.54 million, a PE ratio of -27.33 and a beta of -0.13. 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 price is C$0.65 and its two-hundred day moving average price is C$0.39.

Insider Buying and Selling

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox purchased 200,000 shares of Rackla Metals stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average price of C$0.76 per share, for a total transaction of C$152,000.00. Following the transaction, the insider directly owned 31,200,000 shares in the company, valued at C$23,712,000. This trade represents a 0.65% increase in their ownership of the stock. In the last ninety days, insiders have acquired 825,667 shares of company stock valued at $508,443. 13.48% of the stock is owned by corporate 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.