Rackla Metals (CVE:RAK) Trading Up 25.7% - Time to Buy?

Key Points

• Rackla Metals Inc. shares surged 25.7% to close at C$0.88, with trading volume increasing by 330% compared to the average daily rate.
• Insider Alejandro Emiliano Gubbins Cox purchased 1,400,000 shares at C$0.29 each, contributing to a total of over 2 million shares acquired by insiders in the last quarter.
• The company, primarily involved in gold exploration, holds a 100% interest in the Rivier property and other projects in Yukon and Northwest Territories.

Rackla Metals Inc. (CVE:RAK - Get Free Report) shot up 25.7% during mid-day 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 Trading Down 6.8%

The firm's 50 day moving average price is C$0.62 and its 200-day moving average price is C$0.38. The stock has a market cap of C$112.83 million, a P/E ratio of -27.33 and a beta of -0.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93.

Insiders Place Their Bets

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of Rackla Metals stock in a transaction on Tuesday, August 5th. The stock was acquired at an average cost of C$0.64 per share, with a total value of C$320,000.00. Insiders have purchased a total of 825,667 shares of company stock worth $508,443 in the last 90 days. 13.48% of the stock is owned by corporate 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.