RRL – Credit Suisse rates the stock as Upgrade to Outperform from Neutral

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Credit Suisse is increasing its 2021 gold price forecasts to US$2500/oz and 2022 to US$2200/oz, amid a number of supportive macroeconomic factors.

Across the broker’s gold coverage this bullish gold price outlook produces company valuations that are above current equity prices.

All mid-cap gold miners are priced at a discount, which suggests an intrinsic value opportunity to Credit Suisse.

Regis Resources is upgraded to Outperform from Neutral with a target raised to $6.45 from $5.90.

Sector: Materials.

Target price is $6.45.Current Price is $5.25. Difference: $1.20 – (brackets indicate current price is over target). If RRL meets the Credit Suisse target it will return approximately 19% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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