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.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RGRNF:
- Regis Resources Reports Strong March Quarter Performance
- Regis Resources Substantial Holding Update
- Regis Resources Reports Strong Quarterly Performance and Positive FY25 Outlook
- Regis Resources Sees Shift in Substantial Holder Interests
- Regis Resources Announces Changes in Substantial Holder Interests