NORTHERN STAR RESOURCES LIMITED (NST)
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NST

NST - NORTHERN STAR RESOURCES LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.49
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Northern Star is an Australian gold producer with assets in Australia and North America. Founded in 2000, the company became a listed entity in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$22.19

06 Aug
2026

0.700

OPEN

$22.65

3.26%

HIGH

$22.89

6,915,561

LOW

$22.04

TARGET
$26.175 18.0% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
NST: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 112.6 131.0 xxx
DPS (cps) xxx 55.0 52.8 xxx
EPS Growth xxx 100.0% 16.3% xxx
DPS Growth xxx 37.5% - 4.0% xxx
PE Ratio xxx N/A 17.3 xxx
Dividend Yield xxx N/A 2.3% xxx
Div Pay Ratio(%) xxx 48.8% 40.3% xxx

Dividend yield today if purchased 3 years ago: 5.04%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.42

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 04/03 - ex-div 25.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx112.6
DPS All xxxxxxxxxxxxxxx55.0
Sales/Revenue xxxxxxxxxxxxxxx6,414.9 M
Book Value Per Share xxxxxxxxxxxxxxx1,045.4
Net Operating Cash Flow xxxxxxxxxxxxxxx2,953.5 M
Net Profit Margin xxxxxxxxxxxxxxx20.88 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx11.30 %
Return on Invested Capital xxxxxxxxxxxxxxx10.16 %
Return on Assets xxxxxxxxxxxxxxx7.77 %
Return on Equity xxxxxxxxxxxxxxx11.30 %
Return on Total Capital xxxxxxxxxxxxxxx15.63 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx363.9 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx248 M
Long Term Debt xxxxxxxxxxxxxxx1,462 M
Total Debt xxxxxxxxxxxxxxx1,710 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,690 M
Price To Book Value xxxxxxxxxxxxxxx1.77

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx2,285.3 M
Capex % of Sales xxxxxxxxxxxxxxx35.62 %
Cost of Goods Sold xxxxxxxxxxxxxxx4,181 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx143 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx20 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Macquarie

30/07/2026

1

Outperform

$24.00

8.16%

Northern Star Resources delivered sales of 433,000 ozs in the June quarter, in line with Macquarie's expectations, as was AISC of $2,698/oz.

The area that concerned the broker was the planned shutdowns across all three production sites and, combined with KCGM tie-in activities and commissioning, this implies a softer operating quarter in the near term before the expansion benefits emerge.

Management will provide guidance with the FY26 results on 20 August, unlike previously when it was provided at the fourth quarter results in July. Outperform rating maintained. Target is reduced to $24 from $25.

FORECAST
Macquarie forecasts a full year FY26 dividend of 53.00 cents and EPS of 114.10 cents.
Macquarie forecasts a full year FY27 dividend of 46.00 cents and EPS of 131.70 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

04/08/2026

4

Underweight

$19.80

-10.77%

Jarden maintains an Underweight rating for Northern Star Resources with its target price lowered to $19.80 from $20.60 following a mixed June quarter update accompanied by an absence of FY27 operational guidance.

The company stepped away from its previously guided three-year ramp-up profile for the KCGM asset, creating visibility concerns across medium-term growth expectations.

A material revenue miss during the June quarter leads to reduced FY26 forecasts, now projecting full-year revenue of $7.63bn, EBITDA of $4.17bn, and net profit after tax of $1.75bn.

Projected free cash flow generation remained minimal after adding $52m to the balance sheet during the quarter relative to a market capitalisation of $30bn.

Expecting a final dividend of $0.25 per share to bring full-year FY26 dividends to $0.50 per share, the analyst considers current valuation metrics unsupportive following a -1%-5% reduction in near-term EBITDA estimates.
Access Extra Coverage Research History >

NST STOCK CHART

FNArena News on NST

1
Australian Broker Call *Extra* Edition – Aug 06, 2026

Aug 06 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Aug 04, 2026

Aug 04 2026 - Daily Market Reports
3
Northern Star Poised For Technical Break Out

Aug 04 2026 - Technicals
4
Weekly Ratings, Targets, Forecast Changes – 31-07-26

Aug 03 2026 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Jul 06, 2026

Jul 06 2026 - Daily Market Reports

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