0443 GMT - Regis Resources looks cheap following a 13% drop in its shares since the start of last month, UBS analyst Levi Spry says. The bank upgrades its rating to neutral from sell. "As a hedge-free, debt-free, A$ gold miner, RRL continues to generate strong cash flows and trade on sector-leading FCF [free cash flow] yields," Spry writes in a note. He says Regis is facing higher costs--like its peers--which leads UBS to pare its target on the stock to A$4.60 a share from A$4.75 previously. The company "continues to feature in M&A speculation given its lack of material organic growth projects and questions on returns," says Spry. Regis is up 2.8% at A$4.42. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

July 22, 2025 00:43 ET (04:43 GMT)

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