Rubellite Energy (TSE:RBY) Trading 1.8% Higher – Time to Buy?

Rubellite Energy Inc. (TSE:RBY)’s share price was up 1.8% during trading on Friday . The company traded as high as C$2.30 and last traded at C$2.25. Approximately 27,280 shares traded hands during trading, a decline of 32% from the average daily volume of 40,098 shares. The stock had previously closed at C$2.21.

Wall Street Analysts Forecast Growth

RBY has been the topic of several research reports. BMO Capital Markets cut their price target on shares of Rubellite Energy from C$4.00 to C$3.00 in a report on Friday, December 13th. Cormark raised shares of Rubellite Energy to a “moderate buy” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rubellite Energy has a consensus rating of “Buy” and a consensus price target of C$3.28.

Rubellite Energy Stock Up 1.8 %

The company has a quick ratio of 1.21, a current ratio of 0.42 and a debt-to-equity ratio of 14.82. The firm has a market capitalization of C$152.08 million, a PE ratio of 6.62 and a beta of 1.05. The business has a 50-day moving average price of C$2.07 and a 200-day moving average price of C$2.22.

Rubellite Energy Company Profile

Rubellite Energy Inc, an energy company, engages in the exploration, development, and production of heavy crude oil from the Clearwater Formation in Eastern Alberta. The company operates in the Figure Lake area located in southwest of Lac La Biche, Alberta; the Marten Hills area is located in the northeast of Slave Lake; and the Ukalta area is located in the northeast of Edmonton, Alberta.