Up 199% in one year! Is it time to sell this barnstorming ASX 200 gold stock?

Can the rally continue?

Key points
  • The price of gold reached an all-time high in September, continuing its strong multi-month rally.
  • Shares in ASX 200 gold miner Regis Resources have benefited from this favourable pricing dynamic.
  • Investment bank UBS has now shared its views on the company's share price.

2025 has been a record year for the price of gold.

The precious metal reached all-time highs in the current month after breaking through the US$3,700 per ounce mark for the first time in history.

Overall, the gold price has now risen by more than 40% in the past twelve months.

And riding this powerful wave are a host of ASX 200 gold stocks, including Aussie gold miner Regis Resources Ltd (ASX: RRL).

Regis shares are changing hands at $6.02 apiece at the time of writing, marking a spectacular 199% surge from the same time last year.

For context, Regis has left the broader All Ordinaries Index (ASX: XAO) in its dust, with the benchmark rising by 8.7% during the same period.

But can the rally continue for this ASX 200 gold stock?

Analysts at investment bank UBS have now shared their views.

Gold nuggets with a share price chart.

Image source: Getty Images

Leading gold producer

Regis is an Australian-focused gold producer operating a portfolio of open-pit and underground mines across Western Australia.

Its flagship Duketon gold project consists of three operating centres in the North Eastern Goldfields region of the state.

The ASX 200 gold stock also owns a 30% interest in the Tropicana mine through a joint venture with Anglogold Ashanti PLC (NYSE: AU).

In FY25, Regis produced a total of 373,000 ounces of gold at an all-in sustaining cost (AISC) of US$1,645 per ounce.

This production performance underpinned a year of record results.

Here, the company delivered all-time highs for revenue, operating earnings (EBITDA), and net profit after tax (NPAT).

Moving forward, management expects FY26 production to range between 350,000 and 380,000 ounces of gold.

And in the future, an operational ramp-up at Duketon and Tropicana could potentially boost annual output even further.

UBS viewpoint

Firstly, UBS appears to have a positive near-term outlook for the price of gold.

The broker lifted its forecast to an average of US$3,825 per ounce for 2025, as reported in the Financial Review.

However, despite this favourable setting, UBS believes that Regis shares might have run too hard.

It has now placed a sell rating on this ASX 200 gold stock, citing its sharp share price appreciation for the decision.

Instead, UBS sees better opportunities for investors in three other strong-performing ASX gold stocks.

Here, it pointed to Genesis Minerals Ltd (ASX: GMD), Perseus Mining Ltd (ASX: PRU), and Vault Minerals Ltd (ASX: VAU) as its preferred options.

Shares in Genesis have soared by nearly 180% over the past twelve months to $5.90 per share, at the time of writing.

Meanwhile, Vault shares have jumped by 91% and Perseus shares by 84% in the same period.

Motley Fool contributor Bart Bogacz has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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