Rackla Metals (CVE:RAK) Stock Price Up 10.7% – Still a Buy?

Rackla Metals Inc. (CVE:RAK) was up 10.7% during mid-day trading on Friday. The company traded as high as C$0.31 and last traded at C$0.31. 450,434 shares were traded during mid-day trading, an increase of 26% from the average session volume of 358,910 shares. The stock had previously closed at C$0.28.

Rackla Metals Price Performance

The firm has a market cap of C$56.56 million, a P/E ratio of -7.75 and a beta of 1.92. The firm’s fifty day simple moving average is C$0.21 and its 200 day simple moving average is C$0.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57.

Insider Activity at Rackla Metals

In other news, insider Alejandro Emiliano Gubbins Cox purchased 300,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of C$0.17 per share, with a total value of C$51,000.00. Following the completion of the purchase, the insider owned 33,300,000 shares in the company, valued at approximately C$5,661,000. This represents a 0.91% increase in their ownership of the stock. Corporate insiders own 13.48% of the company’s stock.

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