Rackla Metals (CVE:RAK) Trading 25.7% Higher – Here’s What Happened

Rackla Metals Inc. (CVE:RAK) was up 25.7% during mid-day trading on Saturday . The company traded as high as C$0.91 and last traded at C$0.88. Approximately 2,304,759 shares changed hands during mid-day trading, an increase of 330% from the average daily volume of 536,433 shares. The stock had previously closed at C$0.70.

Rackla Metals Stock Performance

The firm’s fifty day moving average is C$0.61 and its 200 day moving average is C$0.37. The firm has a market capitalization of C$121.09 million, a price-to-earnings ratio of -29.33 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.

Insider Transactions at Rackla Metals

In related news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was bought at an average price of C$0.64 per share, with a total value of C$320,000.00. In the last three months, insiders have purchased 2,025,667 shares of company stock valued at $762,443. 13.48% of the stock is owned by corporate 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.