Rackla Metals (CVE:RAK) Stock Price Down 20.3% – Here’s Why

Rackla Metals Inc. (CVE:RAK)’s stock price was down 20.3% during trading on Wednesday. The stock traded as low as C$0.23 and last traded at C$0.23. 840,430 shares were traded during trading, an increase of 121% from the average session volume of 380,269 shares. The stock had previously closed at C$0.29.

Rackla Metals Trading Down 2.1%

The stock has a market capitalization of C$42.88 million, a PE ratio of -5.87 and a beta of 1.63. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average is C$0.27 and its two-hundred day moving average is C$0.19.

Insider Activity

In other news, insider Alejandro Emiliano Gubbins Cox acquired 500,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of C$0.15 per share, with a total value of C$75,000.00. Following the completion of the acquisition, the insider owned 33,000,000 shares in the company, valued at C$4,950,000. This trade represents a 1.54% increase in their position. 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.