Rackla Metals (CVE:RAK) Stock Price Down 20.3% – Here’s What Happened

Shares of Rackla Metals Inc. (CVE:RAK) traded down 20.3% on Wednesday. The company traded as low as C$0.23 and last traded at C$0.23. 840,430 shares traded hands during trading, an increase of 121% from the average session volume of 380,269 shares. The stock had previously closed at C$0.29.

Rackla Metals Stock Down 18.6%

The stock has a 50 day moving average price of C$0.26 and a 200 day moving average price of C$0.19. The stock has a market capitalization of C$43.79 million, a price-to-earnings ratio of -6.00 and a beta of 1.63. 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 business’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of C$0.15 per share, for a total transaction of C$75,000.00. Following the transaction, the insider directly owned 33,000,000 shares in the company, valued at approximately C$4,950,000. This represents a 1.54% increase in their ownership of the stock. 13.48% of the stock is currently owned by company 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. The company was incorporated in 2011 and is headquartered in Vancouver, Canada.