Rubellite Energy (TSE:RBY) Stock Rating Upgraded by Cormark

Cormark upgraded shares of Rubellite Energy (TSE:RBY) to a moderate buy rating in a report released on Tuesday,Zacks.com reports.

Separately, Atb Cap Markets raised Rubellite Energy to a “strong-buy” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$3.62.

Rubellite Energy Price Performance

Shares of TSE RBY opened at C$2.06 on Tuesday. The stock has a market capitalization of C$139.24 million, a price-to-earnings ratio of 6.06 and a beta of 1.05. Rubellite Energy has a 52 week low of C$1.95 and a 52 week high of C$2.93. The firm has a 50-day simple moving average of C$2.21 and a 200-day simple moving average of C$2.34. The company has a quick ratio of 1.21, a current ratio of 0.42 and a debt-to-equity ratio of 14.82.

Rubellite Energy (TSE:RBY) last issued its earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share for the quarter. Rubellite Energy had a return on equity of 11.06% and a net margin of 20.43%. The business had revenue of C$35.80 million for the quarter.

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.