Rubellite Energy (TSE:RBY) Shares Down 2.3%

Shares of Rubellite Energy Inc. (TSE:RBY) were down 2.3% during trading on Wednesday . The stock traded as low as C$2.52 and last traded at C$2.56. Approximately 10,117 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 34,248 shares. The stock had previously closed at C$2.62.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RBY shares. Stifel Nicolaus lowered their target price on shares of Rubellite Energy from C$3.80 to C$3.60 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Raymond James decreased their price target on shares of Rubellite Energy from C$4.00 to C$3.25 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Finally, BMO Capital Markets set a C$4.00 price objective on shares of Rubellite Energy and gave the company an “outperform” rating in a research report on Tuesday, April 9th.

Rubellite Energy Trading Down 2.3 %

The company has a debt-to-equity ratio of 14.71, a quick ratio of 1.21 and a current ratio of 0.62. The company’s fifty day simple moving average is C$2.55 and its 200-day simple moving average is C$2.37. The company has a market capitalization of C$159.90 million, a P/E ratio of 8.53 and a beta of 1.26.

Rubellite Energy (TSE:RBY) last issued its earnings results on Thursday, March 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.08 by C$0.07. Rubellite Energy had a net margin of 23.07% and a return on equity of 10.35%. The company had revenue of C$27.22 million for the quarter. Research analysts predict that Rubellite Energy Inc. will post 0.470297 earnings per share for the current year.

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.