Rubellite Energy (TSE:RBY) Trading Up 1% – Time to Buy?

Rubellite Energy Inc. (TSE:RBY)’s stock price shot up 1% during trading on Wednesday . The company traded as high as C$1.98 and last traded at C$1.95. 3,359 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 24,394 shares. The stock had previously closed at C$1.93.

Analysts Set New Price Targets

Separately, BMO Capital Markets decreased their target price on Rubellite Energy from C$4.00 to C$3.00 in a research note on Friday, December 13th.

Rubellite Energy Stock Down 7.9 %

The company has a market capitalization of C$159.45 million, a price-to-earnings ratio of 3.45 and a beta of 1.05. 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 business has a 50-day moving average price of C$1.93 and a 200-day moving average price of C$2.07.

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.