Rackla Metals (CVE:RAK) Trading 4.6% Higher - Here's Why

Key Points

• Rackla Metals Inc. saw a trading increase of 4.6% on Monday, with shares reaching a high of C$0.75 before closing at C$0.68.
• Insider Alejandro Emiliano Gubbins Cox acquired 2.2 million shares at an average price of C$0.31, contributing to a total insider purchase of 3.73 million shares worth over $1.12 million in the last quarter.
• The company, specializing in gold exploration, holds a 100% interest in the Rivier property and interests in various projects throughout Yukon and Northwest Territories.

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s stock price shot up 4.6% during mid-day trading on Monday . The stock traded as high as C$0.75 and last traded at C$0.68. 1,645,848 shares changed hands during trading, an increase of 258% from the average session volume of 459,706 shares. The stock had previously closed at C$0.65.

Rackla Metals Stock Down 3.0%

The firm has a market cap of C$62.41 million, a price-to-earnings ratio of -9.14 and a beta of 1.45. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of C$0.40 and a 200-day moving average price of C$0.26.

Insider Activity

In other news, insider Alejandro Emiliano Gubbins Cox bought 2,200,000 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of C$0.31 per share, with a total value of C$682,000.00. Over the last three months, insiders acquired 3,725,667 shares of company stock worth $1,124,443. Insiders own 13.48% of the company's stock.

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.