Rackla Metals (CVE:RAK) Trading 25.7% Higher - Here's Why

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) traded up 25.7% during trading on Saturday . The company 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 company has a 50-day simple moving average of C$0.64 and a 200 day simple moving average of C$0.38. The company has a market cap of C$128.54 million, a P/E 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.

Insider Buying and Selling

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox acquired 200,000 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average cost of C$0.76 per share, for a total transaction of C$152,000.00. Following the completion of the transaction, the insider directly owned 31,200,000 shares of the company's stock, valued at C$23,712,000. This represents a 0.65% increase in their ownership of the stock. Insiders have acquired a total of 825,667 shares of company stock worth $508,443 in the last quarter. 13.48% of the stock is currently owned by company 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.