Rackla Metals (CVE:RAK) Trading Up 15.9% - What's Next?

Key Points

• Rackla Metals Inc. (CVE:RAK) experienced a significant stock increase of 15.9%, closing at C$0.80 after reaching a high of C$0.83 during trading.
• Insider activity included sales of 40,000 shares each by insiders Sally Whittall and Kevin Bales, reducing their positions by 79.39% and 90,000 shares sold over the last ninety days.
• The company's financial standing shows a debt-to-equity ratio of 0.33 and a market capitalization of C$134.82 million.

Rackla Metals Inc. (CVE:RAK - ) was up 15.9% on Thursday . The company traded as high as C$0.83 and last traded at C$0.80. Approximately 1,328,712 shares traded hands during mid-day trading, an increase of 126% from the average daily volume of 587,715 shares. The stock had previously closed at C$0.69.

Rackla Metals Price Performance

The company has a 50 day moving average of C$0.73 and a 200 day moving average of C$0.45. 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 stock has a market capitalization of C$134.82 million, a price-to-earnings ratio of -28.67 and a beta of -0.13.

Insider Buying and Selling at Rackla Metals

In other news, insider Sally Whittall sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of C$0.75, for a total value of C$30,000.00. Following the completion of the sale, the insider directly owned 10,384 shares of the company's stock, valued at C$7,788. This trade represents a 79.39% decrease in their position. Also, insider Kevin Bales sold 40,000 shares of Rackla Metals stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of C$0.74, for a total value of C$29,600.00. In the last ninety days, insiders purchased 1,000,000 shares of company stock valued at $685,000 and sold 90,000 shares valued at $67,200. 13.48% of the stock is owned by company insiders.

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.

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