Atb Cap Markets Brokers Raise Earnings Estimates for TSE:RBY

Rubellite Energy Inc. (TSE:RBY) – Research analysts at Atb Cap Markets lifted their FY2024 earnings estimates for shares of Rubellite Energy in a research report issued to clients and investors on Wednesday, November 13th. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.51 per share for the year, up from their previous forecast of $0.41. Atb Cap Markets currently has a “Strong-Buy” rating on the stock. Atb Cap Markets also issued estimates for Rubellite Energy’s Q4 2024 earnings at $0.14 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at $0.49 EPS and FY2026 earnings at $0.34 EPS.

Separately, Cormark upgraded shares of Rubellite Energy to a “moderate buy” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$3.62.

Rubellite Energy Stock Performance

Shares of TSE RBY opened at C$2.02 on Thursday. The business’s 50-day simple moving average is C$2.19 and its 200-day simple moving average is C$2.33. The company has a debt-to-equity ratio of 14.82, a quick ratio of 1.21 and a current ratio of 0.42. Rubellite Energy has a 52 week low of C$1.95 and a 52 week high of C$2.93. The firm has a market cap of C$136.53 million, a price-to-earnings ratio of 5.94 and a beta of 1.05.

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.