Rackla Metals (CVE:RAK) Shares Down 76.4% – Here’s Why

Rackla Metals Inc. (CVE:RAK) was down 76.4% on Monday . The company traded as low as C$0.18 and last traded at C$0.21. Approximately 14,392,884 shares changed hands during trading, an increase of 2,058% from the average daily volume of 667,001 shares. The stock had previously closed at C$0.87.

Rackla Metals Stock Down 76.4%

The firm has a market cap of C$32.14 million, a price-to-earnings ratio of -6.83 and a beta of 0.25. The firm has a 50 day moving average of C$0.73 and a 200 day moving average of C$0.46. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33.

Insiders Place Their Bets

In other news, insider Kevin Bales sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of C$0.74, for a total transaction of C$29,600.00. Also, insider Sally Whittall sold 40,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of C$0.75, for a total value of C$30,000.00. Following the completion of the transaction, the insider owned 10,384 shares in the company, valued at approximately C$7,788. This represents a 79.39% decrease in their ownership of the stock. Over the last quarter, insiders have bought 1,000,000 shares of company stock worth $685,000 and have sold 90,000 shares worth $67,200. 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.