Regis Bear Thinks Gold Miner Still Eager for a Deal
Dow Jones
Aug 21
0001 GMT - Regis Resources' FY result reinforces Barrenjoey's view that M&A remains on the agenda for the Australian gold producer. While the miner's 20 Australian cents a share payout beats expectations, "the dividend is pretty low" when taking into account Regis's cash position and robust free cash flow generation, Barrenjoey says. "RRL in our view is telegraphing that M&A remains high on the agenda, and we believe is likely to be an active participant in any auctions of assets that come to market," says the bank. Barrenjoey has an underweight rating and an A$5.60/share target on Regis. The stock ended Thursday at A$8.23.
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