Regis Resources FY24 production in line with estimates, says Citi

Regis Resources

08/07/2024 19:22

** Citi analysts say Australia's Regis Resources'  RRL.AX 
FY24 pre-release production of 418koz is in line with Citi
expectations
    ** Analysts are, however, disappointed with Tropicana
production as its 128koz produce misses guidance (135-150koz)
following heavy rainfall in March quarter
    ** Brokerage sees gradual production recovery in Tropicana
    ** Citi adds "to sustain production, RRL’s challenge remains
funding"
    ** Hikes price target to A$1.90 per share, moves rating to
"neutral"
    ** Six of 12 analysts rate the stock "buy" or higher, three
"hold" and three "sell" or lower; their median PT is A$2.10 –
LSEG data
    ** Stock is down 17% so far this year, as of last close

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))