BMO Capital Markets Lowers Rubellite Energy (TSE:RBY) Price Target to C$3.00

Rubellite Energy (TSE:RBY) had its price target cut by equities researchers at BMO Capital Markets from C$4.00 to C$3.00 in a research note issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 57.89% from the stock’s previous close.

Separately, Cormark upgraded Rubellite Energy to a “moderate buy” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$3.28.

Rubellite Energy Stock Performance

Rubellite Energy stock traded down C$0.04 during trading hours on Friday, hitting C$1.90. 11,707 shares of the stock traded hands, compared to its average volume of 35,073. The company has a debt-to-equity ratio of 14.82, a current ratio of 0.42 and a quick ratio of 1.21. The firm’s 50 day moving average price is C$2.14 and its 200-day moving average price is C$2.26. The stock has a market capitalization of C$128.42 million, a price-to-earnings ratio of 5.59 and a beta of 1.05. Rubellite Energy has a 1 year low of C$1.87 and a 1 year high of C$2.93.

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.