Ann: Record Annual Gold Production in FY2023, page-16

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Monday, 10 July 2023

RRL - REGIS RESOURCES LIMITED

Macquarie rates RRL as Outperform (1) - Regis Resources has provided FY23 production that was ahead of Macquarie's estimates. Gold production at Duketon of 90,600 ounces was 6% ahead of expectations which offset production of 31,900 ounces at Tropicana, -5% below estimates.

No update on costs was provided. The broker assesses the company now has two cash-generating assets that will be adequate to fund McPhillamys along with modest debt assistance. Outperform rating and $2.90 target maintained.

Target price is $2.90 Current Price is $1.95 Difference: $0.955 If RRL meets the Macquarie target it will return approximately 49% (excluding dividends, fees and charges). Current consensus price target is $2.38, suggesting upside of 22.4%(ex-dividends)The company's fiscal year ends in June.

Forecast for FY23:

Macquarie forecasts a full year FY23 dividend of 1.00 cents and EPS of minus 5.60 cents . At the last closing share price the estimated dividend yield is 0.51%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 34.73. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.7, implying annual growth of -6.6%. Current consensus DPS estimate is 1.4, implying a prospective dividend yield of 0.7%. Current consensus EPS estimate suggests the PER is 114.4.

Forecast for FY24:

Macquarie forecasts a full year FY24 dividend of 1.00 cents and EPS of 15.90 cents . At the last closing share price the estimated dividend yield is 0.51%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.23. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.2, implying annual growth of 1088.2%. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 9.6.

Market Sentiment: 0.5All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources