BMO Capital Sees Significant Catalysts To Unlock Upside Potential In Rubellite

BMO Capital Sees Significant Catalysts To Unlock Upside Potential In Rubellite

BMO Capital analyst Mike Murphy initiated coverage of Rubellite Energy Inc RBY RUBLF, a growth-focused, pure-play Clearwater heavy oil explorer and producer.

The analyst initiated Rubellite with an Outperform rating on the shares and a price target of C$6.

Murphy states that Rubellite provides investors with pure-play exposure to the Clearwater, which they consider to be the most economical and fastest-growing conventional oil play in Western Canada.

Additionally, the analyst believes that Rubellite has the inventory depth and quality to deliver best-in-class production per share growth in the future, with significant upcoming exploration catalysts unlocking upside potential.

Price Action: RBY shares are trading lower by 1.45% at C$4.09 on TSX, and RUBLF is lower by 3.20% at $3.18 on the last check Friday.

Photo Via Company

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