Regis Resources (ASX: RRL) Broker Ratings

08/04/2025

• Morgans has maintained its Add rating for Regis Resources while raising the target price to $4.65 from $3.89. The broker highlights cash generation of $138m in 3Q25, which lifted the total cash and bullion position to $367m, noting the company is now debt-free after repaying $300m debt during the quarter. Total gold production of 89.7koz beat the brokers forecast of 86.8koz.

• Macquarie has maintained its Outperform rating for Regis Resources with a target price of $4.30. The broker notes 3Q25 production of 89.7koz beat their forecast by 4%, with cash and bullion generation of $138m also exceeding expectations. Macquarie believes the company is on track to achieve FY25 guidance and has retained its forecast, which is 2% above the mid-point of guidance.

03/04/2025

• Ord Minnett has maintained its Sell rating for Regis Resources while raising the target price to $2.70 from $2.40. The broker has broadly reduced commodity price forecasts, except for gold and neodymium-praseodymium, citing concerns over weakening Chinese steel demand and potential impacts from proposed US tariffs. Ord Minnett prefers base metal producers over bulk miners, with limited appeal among lithium and coal producers.

• Citi has maintained its Neutral rating for Regis Resources while raising the target price to $4.10 from $3.40. The broker stresses gold equities are currently discounting a US$2,250–US$2,500/oz gold price versus the current spot price of US$3,090/oz, lifting EPS estimates by 15% for FY25 and FY26. Citi has raised its long-term real gold price forecast to US$2,200/oz from US$2,000/oz.

• Morgan Stanley has maintained its Equal-weight rating for Regis Resources with a target price of $3.35. The broker's analysis of FY24/2024 executive pay vs total shareholder return found some positive alignment but weak correlation. Morgan Stanley notes the company is set to generate free cash flow yields for FY25 but believes this is already priced in.

• Bell Potter has maintained its Buy rating for Regis Resources while raising the target price to $4.34 from $3.75. The broker has upgraded gold price forecasts by 7% in 1H 2025 to US$2,890, by 9.3% for 2H 2025 to US$2,950, and by 12% in 2026 to US$2,800, lifting EPS estimates for Regis by 20% in FY25 and 44% in FY26

21/02/2025

• UBS has maintained its Sell rating for Regis Resources with an unchanged target price of $3.10. The broker has raised FY25 EPS estimates by 16% to $0.28, while FY26 and FY27 estimates were reduced slightly. UBS sees valuation as stretched given the shrinking production profile and limited mine life extension, despite strong gold prices and competitive all-in costs.

Regis Resources Stock Price

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