Rackla Metals (CVE:RAK) Stock Jumps 16.2% – Still a Buy?

Rackla Metals Inc. (CVE:RAK) was up 16.2% during trading on Wednesday. The stock traded as high as C$0.21 and last traded at C$0.21. 111,845 shares traded hands during trading, a decline of 70% from the average daily volume of 374,600 shares. The stock had previously closed at C$0.18.

Rackla Metals Price Performance

The business’s fifty day moving average price is C$0.26 and its 200 day moving average price is C$0.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93. The stock has a market cap of C$39.23 million, a P/E ratio of -5.38 and a beta of 1.63.

Insider Buying and Selling

In related news, insider Alejandro Emiliano Gubbins Cox acquired 500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of C$0.15 per share, with a total value of C$75,000.00. Following the purchase, the insider directly owned 33,000,000 shares in the company, valued at approximately C$4,950,000. This trade represents a 1.54% increase in their ownership of the stock. Over the last ninety days, insiders have purchased 1,014,500 shares of company stock valued at $171,215. 13.48% of the stock is owned by corporate insiders.

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.