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

Rackla Metals Inc. (CVE:RAK)’s stock price fell 76.4% during mid-day trading on Tuesday . The stock traded as low as C$0.18 and last traded at C$0.21. 14,392,884 shares were traded during mid-day trading, an increase of 2,058% from the average session volume of 667,001 shares. The stock had previously closed at C$0.87.

Rackla Metals Trading Down 76.4%

The firm has a fifty day simple moving average of C$0.73 and a 200-day simple moving average of C$0.46. The firm has a market cap of C$32.14 million, a P/E 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.

Insider Activity

In related news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of C$0.64 per share, for a total transaction of C$320,000.00. Also, insider Kevin Bales sold 40,000 shares of the firm’s 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 90 days, insiders have purchased 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.