Rackla Metals (CVE:RAK) Shares Down 20.3% – Should You Sell?

Rackla Metals Inc. (CVE:RAK) shares traded down 20.3% during mid-day trading on Wednesday. The stock traded as low as C$0.23 and last traded at C$0.23. Approximately 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 Performance

The stock has a 50 day moving average of C$0.26 and a 200 day moving average of C$0.19. The company has a quick ratio of 6.93, a current ratio of 4.57 and a debt-to-equity ratio of 0.33. The firm has a market cap of C$43.79 million, a price-to-earnings ratio of -6.00 and a beta of 1.63.

Insider Buying and Selling

In other news, insider Alejandro Emiliano Gubbins Cox bought 500,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of C$0.15 per share, for a total transaction of C$75,000.00. Following the transaction, the insider owned 33,000,000 shares of the company’s stock, valued at 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 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. The company was incorporated in 2011 and is headquartered in Vancouver, Canada.