Rubellite Energy (TSE:RBY) Trading 1.5% Higher – Time to Buy?

Rubellite Energy Inc. (TSE:RBY) shot up 1.5% on Tuesday . The stock traded as high as C$2.01 and last traded at C$2.00. 11,915 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 24,654 shares. The stock had previously closed at C$1.97.

Analyst Ratings Changes

RBY has been the topic of several analyst reports. Cormark raised Rubellite Energy to a “moderate buy” rating in a report on Tuesday, November 5th. BMO Capital Markets reduced their price objective on shares of Rubellite Energy from C$4.00 to C$3.00 in a research note on Friday, December 13th.

Rubellite Energy Stock Up 1.5 %

The firm has a 50 day simple moving average of C$2.06 and a two-hundred day simple moving average of C$2.18. The company has a quick ratio of 1.21, a current ratio of 0.46 and a debt-to-equity ratio of 38.92. The stock has a market capitalization of C$182.22 million, a P/E ratio of 3.94 and a beta of 1.05.

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.