Rackla Metals (CVE:RAK) Stock Price Down 9.6% – Here’s Why

Rackla Metals Inc. (CVE:RAK)’s share price fell 9.6% during mid-day trading on Tuesday . The company traded as low as C$0.72 and last traded at C$0.75. 993,584 shares traded hands during trading, an increase of 96% from the average session volume of 506,624 shares. The stock had previously closed at C$0.83.

Rackla Metals Price Performance

The stock’s 50-day moving average price is C$0.53 and its 200 day moving average price is C$0.33. The firm has a market capitalization of C$73.13 million, a price-to-earnings ratio of -10.71 and a beta of 1.45. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33.

Insider Transactions at Rackla Metals

In other Rackla Metals news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were acquired at an average cost of C$0.64 per share, with a total value of C$320,000.00. Over the last three months, insiders have bought 2,025,667 shares of company stock worth $762,443. 13.48% of the stock is currently 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.