Rackla Metals (CVE:RAK) Shares Up 9.2% - Here's Why

Key Points

• Rackla Metals Inc. saw its stock price increase by 9.2% during mid-day trading on Tuesday, rising from C$0.65 to as high as C$0.72.
• Insider Alejandro Emiliano Gubbins Cox purchased 2,200,000 shares at C$0.31 each, totaling C$682,000, highlighting confidence in the company's future.
• The company has a market capitalization of C$66.31 million and a significant debt-to-equity ratio of 0.33, indicating a manageable level of debt.

Rackla Metals Inc. (CVE:RAK - Get Free Report)'s share price was up 9.2% during trading on Tuesday . The company traded as high as C$0.72 and last traded at C$0.71. Approximately 946,352 shares traded hands during trading, an increase of 98% from the average daily volume of 477,161 shares. The stock had previously closed at C$0.65.

Rackla Metals Stock Performance

The stock has a 50 day simple moving average of C$0.52 and a 200 day simple moving average of C$0.33. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33. The stock has a market cap of C$77.03 million, a P/E ratio of -11.29 and a beta of 1.45.

Insider Activity

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox purchased 1,400,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were bought at an average price of C$0.29 per share, for a total transaction of C$406,000.00. In the last 90 days, insiders acquired 2,025,667 shares of company stock valued at $762,443. 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.