Credit Suisserates RRL asOutperform(1) -
Regis Resources' September quarter production was -10% below forecast. Reduced availability of equipment, spare parts and skilled labour impeded material movement at both Garden Well and Tropicana, Credit Suisse notes.
Negative grade variations also impacted, and these are expected to continue into this quarter. The Graden Well underground project is progressing well, but mangement highlighted more labour risk when vaccines become mandatory from December 31.
Outperfrorm and $3.60 target nevertheless retained.
Target price is$3.60Current Price is$2.14Difference:$1.46
IfRRLmeets the Credit Suisse target it will return approximately68%(excluding dividends, fees and charges).
Current consensus price target is$3.13, suggesting upside of46.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
| Credit Suisse forecasts a full yearFY22dividend of12.00cents and EPS of33.80cents.
At the last closing share price the estimated dividend yield is5.61%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is6.33. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is27.5, implying annual growth of4.3%. Current consensus DPS estimate is9.2, implying a prospective dividend yield of4.3%. Current consensus EPS estimate suggests the PER is7.8. |
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Forecast for FY23:
| Credit Suisse forecasts a full yearFY23dividend of12.00cents and EPS of42.60cents.
At the last closing share price the estimated dividend yield is5.61%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is5.02. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is25.6, implying annual growth of-6.9%. Current consensus DPS estimate is7.2, implying a prospective dividend yield of3.4%. Current consensus EPS estimate suggests the PER is8.4. |
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