Rackla Metals (CVE:RAK) Trading 25.7% Higher - What's Next?

Key Points

• Rackla Metals Inc. experienced a significant stock increase of 25.7%, trading as high as C$0.91 before closing at C$0.88.
• Insider Alejandro Emiliano Gubbins Cox purchased 1.4 million shares at an average price of C$0.29, indicating strong internal confidence in the company.
• The company, which focuses on gold exploration, has a market cap of C$121.09 million and a debt-to-equity ratio of 0.33, suggesting solid financial stability.

Rackla Metals Inc. (CVE:RAK - Get Free Report) shares 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 changed hands during 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 1.2%

The stock has a fifty day moving average of C$0.65 and a 200-day moving average of C$0.39. The firm has a market capitalization of C$128.54 million, a price-to-earnings ratio of -27.33 and a beta of -0.13. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33.

Insiders Place Their Bets

In related news, insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average price of C$0.64 per share, with a total value of C$320,000.00. Over the last 90 days, insiders bought 825,667 shares of company stock valued at $508,443. Company 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.