Regis Resources downgraded to Hold from Buy at Canaccord

Canaccord analyst Tim McCormack downgraded Regis Resources to Hold from Buy with a price target of A$2, down from A$2.65, following the company’s June quarter report and FY24 outlook. Based on its revised estimates, the firm thinks Regis looks unable to satisfy its A$300M bullet debt repayment due May 2024. While the firm is confident management will be able to refinance the debt, it “places the company in a difficult position with respect to funding options,” the analyst says.