Australia's Regis Resources slips after Bell Potter cuts PT, earnings view

Regis Resources

23/07/2024 04:46

** Shares of gold producer Regis Resources  RRL.AX  fall as
much as 2.4% to A$1.87, their lowest since July 10
    ** Stock set to decline for fourth straight day
    ** Analysts at Bell Potter trims PT to A$2.70 from A$2.80
and maintain "buy" rating on stock
    ** Downgrades earnings estimates by 4%, 30% and 27% for
FY24, FY25 and FY26 respectively
    ** Pre-production capex given by RRL for McPhillamys gold
project is at the lower end of our expectations and all-in
sustaining cost (AISC) are well below our expectations and an
industry average we most recently measured at ~A$2,100/oz - Bell
Potter
    ** Eight of 13 analysts covering the stock rate it "buy" or
higher, three "hold" and two "sell"; their median PT is A$2.10
–– LSEG data
    ** Stock has fallen 12.4% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))