Rackla Metals (CVE:RAK) Shares Up 14.3% Following Insider Buying Activity

Shares of Rackla Metals Inc. (CVE:RAK) were up 14.3% during trading on Thursday following insider buying activity. The company traded as high as C$0.16 and last traded at C$0.16. Approximately 1,300,737 shares were traded during mid-day trading, an increase of 344% from the average daily volume of 293,033 shares. The stock had previously closed at C$0.14.

Specifically, insider Alejandro Emiliano Gubbins Cox acquired 500,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of C$0.15 per share, for a total transaction of C$75,000.00. Following the transaction, the insider directly owned 33,000,000 shares of the company’s stock, valued at approximately C$4,950,000. This trade represents a 1.54% increase in their position.

Rackla Metals Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57. The business has a fifty day simple moving average of C$0.14 and a 200 day simple moving average of C$0.14. The stock has a market cap of C$29.96 million, a price-to-earnings ratio of -4.50 and a beta of 1.48.

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. The company was incorporated in 2011 and is headquartered in Vancouver, Canada.