Rackla Metals (CVE:RAK) Shares Up 25.7% - Here's What Happened

Key Points

• Shares of Rackla Metals Inc. rose by 25.7% during trading, reaching a high of C$0.91 before settling at C$0.88.
• Insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares at C$0.64 each, indicating strong insider confidence as insiders acquired a total of 2,025,667 shares worth $762,443 over the past ninety days.
• Rackla Metals, a junior gold exploration company, holds a 100% interest in the Rivier property in Yukon and is involved in mining activities across Canada.

Shares of Rackla Metals Inc. (CVE:RAK - Get Free Report) shot up 25.7% during trading 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 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 5.7%

The firm's 50 day moving average is C$0.61 and its two-hundred day moving average is C$0.37. The stock has a market cap of C$114.21 million, a price-to-earnings ratio of -27.67 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 1,400,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was acquired at an average price of C$0.29 per share, with a total value of C$406,000.00. Over the last three months, insiders have bought 2,025,667 shares of company stock valued at $762,443. Corporate 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.