Rackla Metals (CVE:RAK) Shares Down 10.3% – Here’s What Happened

Rackla Metals Inc. (CVE:RAK) shares dropped 10.3% during mid-day trading on Friday . The company traded as low as C$0.69 and last traded at C$0.70. Approximately 560,476 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 493,270 shares. The stock had previously closed at C$0.78.

Rackla Metals Price Performance

The stock has a market cap of C$77.03 million, a price-to-earnings ratio of -11.29 and a beta of 1.45. The stock has a fifty day simple moving average of C$0.52 and a 200-day simple moving average of C$0.33. The company has a current ratio of 4.57, a quick ratio of 6.93 and a debt-to-equity ratio of 0.33.

Insider Transactions at Rackla Metals

In other news, insider Alejandro Emiliano Gubbins Cox acquired 500,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of C$0.64 per share, with a total value of C$320,000.00. Over the last quarter, insiders purchased 2,025,667 shares of company stock valued at $762,443. Company insiders own 13.48% of the company’s stock.

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.