The spring is definitely a problem, and I would replace it. Stretching it may work for a while, but a spring that has sagged that much indicates poor spring quality (which is not too unlikely in a Ruby pistol). You can only stretch a spring so much, so the problem could also be fatigue from stretching it in the past. Alanint's advice is good, it will help you find another spring of the correct length, diameter and wire gauge.
I would definitely not shim it, and that's more on principle than practical considerations. If the slop is as bad as you describe it, I would also suspect that the spring has been replaced, damaged or maybe even cut by somebody trying to "fix a problem".
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