Rubellite Energy (TSE:RBY) Trading Up 1.8% – Here’s Why

Rubellite Energy Inc. (TSE:RBY) traded up 1.8% on Friday . The company traded as high as C$2.30 and last traded at C$2.25. 27,280 shares were traded during trading, a decline of 32% from the average session 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 a number of recent research reports. Cormark raised Rubellite Energy to a “moderate buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets cut their target price on shares of Rubellite Energy from C$4.00 to C$3.00 in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$3.28.

Rubellite Energy Trading Up 1.8 %

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

About Rubellite Energy

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.