Rackla Metals (CVE:RAK) Stock Price Up 14% – Should You Buy?

Rackla Metals Inc. (CVE:RAK)’s share price shot up 14% on Monday . The stock traded as high as C$0.25 and last traded at C$0.24. 2,514,943 shares traded hands during mid-day trading, an increase of 664% from the average daily volume of 329,005 shares. The stock had previously closed at C$0.21.

Rackla Metals Stock Down 9.8%

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 has a market cap of C$38.28 million, a P/E ratio of -5.75 and a beta of 1.48. The firm has a 50-day simple moving average of C$0.15 and a two-hundred day simple moving average of C$0.15.

Insider Activity

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox purchased 500,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of C$0.15 per share, for a total transaction of C$75,000.00. Following the completion of the transaction, the insider owned 33,000,000 shares in the company, valued at approximately C$4,950,000. This represents a 1.54% increase in their ownership of the stock. In the last quarter, insiders have purchased 970,000 shares of company stock worth $152,500. 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.