Rackla Metals (CVE:RAK) Trading Down 76.4% – Should You Sell?

Rackla Metals Inc. (CVE:RAK)’s stock price was down 76.4% during mid-day trading on Tuesday . The company traded as low as C$0.18 and last traded at C$0.21. Approximately 14,392,884 shares traded hands during mid-day 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 stock has a market capitalization of C$32.14 million, a P/E ratio of -6.83 and a beta of 0.25. 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’s 50 day simple moving average is C$0.73 and its 200 day simple moving average is C$0.46.

Insider Activity at Rackla Metals

In other news, insider Alejandro Emiliano Gubbins Cox purchased 200,000 shares of the stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average cost of C$0.76 per share, for a total transaction of C$152,000.00. Following the acquisition, the insider owned 31,200,000 shares of the company’s stock, valued at C$23,712,000. The trade was a 0.65% increase in their ownership of the stock. Also, insider Kevin Bales sold 40,000 shares of Rackla Metals stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of C$0.74, for a total value of C$29,600.00. Over the last three months, insiders bought 1,000,000 shares of company stock valued at $685,000 and sold 90,000 shares valued at $67,200. 13.48% of the stock is owned by corporate insiders.

Rackla Metals Company Profile

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.