The Regis Resources share price was out of form and sank 17.8% lower last month. Investors were selling this gold miner's shares following a pullback in the price of the precious metal and an underwhelming quarterly update. The latter led to analysts at Macquarie reaffirming their underperform rating and slashing the price target on its shares down to $4.50. And while the Regis share price has since dropped below this target price, Macquarie has warned that the second quarter could also be weak.