In the good books
Regis Resources (RRL) was upgraded to Hold from Reduce by Morgans. B/H/S – 1/2/5.
Gold production for the June quarter was up 7.8%, only marginally below the record in the December quarter. Morgans increases valuation, raising the target to $4.40 from $3.65 on the back of the updated resource and reserve base, approval of the Rosemont development and advances at McPhillamys. Rating is upgraded to Hold from Reduce, using the spot gold price and a zero discount rate.