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: 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

$18.93

27 Aug
2025

0.330

OPEN

$19.20

1.77%

HIGH

$19.46

5,766,383

LOW

$18.80

TARGET
$20.279 7.1% 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 112.6 121.3 xxx
DPS (cps) xxx 55.0 42.0 xxx
EPS Growth xxx 100.0% 7.7% xxx
DPS Growth xxx 37.5% - 23.6% xxx
PE Ratio xxx N/A 15.6 xxx
Dividend Yield xxx N/A 2.2% xxx
Div Pay Ratio(%) xxx 48.8% 34.7% xxx

Dividend yield today if purchased 3 years ago: 7.37%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.91

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: 03/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 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

0.4

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

22/08/2025

3

Neutral

$18.00

-4.91%

Citi observes Northern Star Resources' FY25 resut was in line with expectations, with FY26 guidance on D&A and cash among the new news.

FY25 cash guidance was a wide range of $700-835m, given uncertainty on the gold price. The guidance on D&A of $875-975/oz was well over the consensus of $807/oz, leading to a cut to the broker's FY26-28 EPS forecasts by -3-5%.

The broker expects first gold from Hemi project in 4Q29, following final investment decision in mid-2026 after state, federal and other approvals. 

No change to $18 target price. Neutral retained.

FORECAST
Citi forecasts a full year FY26 dividend of 33.00 cents and EPS of 85.20 cents.
Citi forecasts a full year FY27 dividend of 41.00 cents and EPS of 84.10 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

Jarden

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

25/08/2025

1

Buy

$24.40

28.90%

Northern Star Resources' FY25 underlying EBITDA of $3.5bn met Canaccord Genuity's forecast, and cash earnings of $2.9bn was also in line with guidance and the broker's forecast.

The company guided to FY26 sales of 1.70-1.80Moz at cost of $2,300-2,700/oz, prompting the broker to lower sales forecast by -1% to 1.74Moz and lift cost forecast by 1% to $2,501/oz.

Buy. Target rises to $24.40 from $24.10.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 36.00 cents and EPS of 128.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 48.00 cents and EPS of 184.00 cents.
Access Extra Coverage Research History >

NST STOCK CHART

FNArena News on NST

1
Australian Broker Call *Extra* Edition – Aug 27, 2025

Aug 27 2025 - Daily Market Reports
2
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3
Australian Broker Call *Extra* Edition – Aug 25, 2025

Aug 25 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 22-08-2025

Aug 22 2025 - Australia
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