Rackla Metals (CVE:RAK) Stock Price Up 14.3% After Insider Buying Activity

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

Specifically, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of Rackla Metals stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of C$0.15 per share, with a total value of C$75,000.00. Following the completion of the purchase, 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 ownership of the stock.

Rackla Metals Stock Performance

The firm’s 50 day moving average price is C$0.14 and its two-hundred day moving average price is C$0.14. The firm has a market cap of C$29.96 million, a PE ratio of -4.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.93 and a current ratio of 4.57.

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.