Regis Resources downgraded to Neutral from Outperform at Macquarie

Macquarie analyst Ben Crowley downgraded Regis Resources (RGRNF) to Neutral from Outperform with a A$4.30 price target The company’s Q3 pre-reported results were broadly in-line, with Milled volumes 7% below the firm’s estimates, driven by Duketon and offset by higher head grade while Tropicana was in line, the analyst tells investors in a research note. The firm added that the downgrade was due to share price strength, as the stock is up 77% year-to-date. The firm also noted that catalysts include potential further consolidation of dividends/share buybacks and other growth options.