Rackla Metals (CVE:RAK) Trading 25.7% Higher – Should You Buy?

Rackla Metals Inc. (CVE:RAK) traded 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. 2,304,759 shares were traded 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 Price Performance

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’s fifty day moving average price is C$0.61 and its 200-day moving average price is C$0.37. The firm has a market cap of C$121.09 million, a price-to-earnings ratio of -29.33 and a beta of -0.13.

Insiders Place Their Bets

In related news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of C$0.64 per share, for a total transaction 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 currently owned by company 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.