Rubicon Minerals Up 6.8% On Drilling Results (RBY)

Shares of Rubicon Minerals Corporation RBY are trading up 6.8% at $5.49 per share during the Monday afternoon trading session. The company reported drill results on Monday morning from exploration drilling of the F2 Gold System, part of its 100% owned Phoenix Gold Project in the Red Lake gold district of Ontario. President and CEO David Adamson said, "These latest results continue to demonstrate both the very high hit ratio of holes drilled to date since discovery in 2008 as well as the continued presence of significant high-grade gold in newly tested areas. Of particular note is the extension of the system south of the already large 9X target area which bodes well for further expansion of the F2 Gold System." The day's trading range for shares of Rubicon Minerals Corporation has been between $5.31 and $5.55 per share. Analysts covering Rubicon Minerals Corporation (RBY) stock give it a consensus price target of $6.00 per share. Trading volume for Rubicon Minerals Corporation has been average, with 1.3 million shares having been traded today, still below the daily average volume of 1.4 million shares. Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake, Ontario. Read more from Benzinga's Company news.