Stock Spotlight: Northern Star Resources (ASX:NST)
About Northern Star Resources
Northern Star Resources Limited engages in the exploration, development, mining, and processing of gold deposits. The company also sells refined gold. It operates in Western Australia, the Northern Territory, and Alaska. The company was incorporated in 2000 and is headquartered in Subiaco, Australia.
Key Stats
Key Stats
Source: Yahoo Finance. Data as of 06/08/25.
Price Performance
Growth Potential
- We expect the gold price to continue rising – we expect the gold price to rise above US$3,000/oz over the medium term.
- NST is a pure play on the gold price with attractive gold assets.
- Attractive production growth profile – the KCGM expansion alone is expected to deliver 27mtpa by FY29.
- Franking of dividends from FY25.
- New acquisitions provide upside (resource and operational improvement).
- Strong management team with significant mining expertise.
- Strong balance sheet – ample liquidity of $2.7bn ($1.2bn cash + $1.5bn in facilities).
- NST has a good track record of shareholder return. $300m on-market share buyback is still active and given the strong balance sheet and highly cash generative assets, we see potential for future share buybacks.
Key Risks
- Further deterioration in global macroeconomic conditions.
- Inflation and cost pressures impact margins.
- Production expansion plans fall short of market and management expectations/guidance.
- Deterioration in global gold supply & demand equation.
- Deterioration in gold prices
- Production issues, delay or unscheduled shutdown of mines (including weather related impacts).
- Adverse movements in AUD/USD.
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Disclaimer: This article does not constitute financial advice nor a recommendation to invest in the securities listed. The information presented is intended to be of a factual nature only. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing.
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