Rubellite Energy (TSE:RBY) Trading 1.8% Higher - Still a Buy?

Rubellite Energy Inc. (TSE:RBY - Get Free Report)'s stock price shot up 1.8% during mid-day trading on Friday . The stock traded as high as C$2.30 and last traded at C$2.25. 27,280 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 40,098 shares. The stock had previously closed at C$2.21.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Rubellite Energy from C$4.00 to C$3.00 in a research report on Friday, December 13th. Cormark upgraded 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$3.28.

Rubellite Energy Stock Up 1.8 %

The company has a market cap of C$152.08 million, a P/E ratio of 6.62 and a beta of 1.05. 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 company has a fifty day moving average of C$2.07 and a 200 day moving average of C$2.22.

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.