Rackla Metals (CVE:RAK) Trading Down 76.4% – Here’s What Happened

Shares of Rackla Metals Inc. (CVE:RAK) dropped 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 changed 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 Performance

The stock has a market cap of C$32.14 million, a price-to-earnings ratio of -6.83 and a beta of 0.25. 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 firm has a fifty day moving average of C$0.73 and a 200 day moving average of C$0.46.

Insider Activity

In other news, insider Kevin Bales sold 40,000 shares of the 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. Also, insider Sally Whittall 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$0.75, for a total transaction of C$30,000.00. Following the sale, the insider directly owned 10,384 shares in the company, valued at approximately C$7,788. The trade was a 79.39% decrease in their position. In the last quarter, insiders have bought 1,000,000 shares of company stock valued at $685,000 and have sold 90,000 shares valued at $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.