Summary of basic materials: market discussions
Summary of basic materials: market discussions
The latest market discussions on basic materials. Published exclusively on Dow Jones Newswires at 4:20 a.m. ET, 12:20 p.m. ET and 4:50 p.m. ET.
01:14 GMT – Regis Resources reported strong first-quarter results, slightly above expectations for gold production and costs, RBC Capital Markets analyst Alex Barkley said in a note. This follows a strong fourth quarter in fiscal 2023, he says. “We had seen potential for sustainment in Q1 FY24 and a comeback in ratings, which has largely not happened,” said Barkley, who believes that “a stable first quarter should give investors more confidence in positioning for the best expected value of RRL beyond FY24″. Regis shares have underperformed in recent months after weaker-than-expected fiscal 2024 guidance, he adds. RBC has an outperform rating and A$2.20 target on the stock, up 0.5% to A$1.6775. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
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