Australia's Gold Road Resources jumps on Macquarie upgrade to 'outperform'
** Shares of Gold Road Resources Ltd GOR.AX rise as much as 9.4% to A$1.723; logs biggest intraday pctgain since March 20
** Macquarie upgrades stock to "outperform" from "neutral", retains A$1.90 price target
** Says 2Q23 performance was better than expected
** Brokerage says GOR's FY AISC guidance of between A$1,540 to A$1,660 per attributable ounce is lower than it's estimate of A$1,696/oz
** Australian gold miner on Monday said June quarter gold sales totalled 38,297 ounces at average sales price of A$2,961 per ounce
** Gruyere mine expected to produce between 320,000 and 350,000 ounces in FY23, higher than FY22's total output of 314,647 ounces
** Stock down 6.8% YTD vs 16% increase in ASX All Ordinaries Gold index .AXGD
Reporting by Shivangi Lahiri in Bengaluru
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