NORTHERN STAR RESOURCES LIMITED (NST)
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NST - NORTHERN STAR RESOURCES LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.61
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

$16.08

17 Dec
2024

-0.020

OPEN

$15.94

-0.12%

HIGH

$16.08

4,793,424

LOW

$15.91

TARGET
$17.963 11.7% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
NST: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 55.6 108.0 xxx
DPS (cps) xxx 40.0 47.7 xxx
EPS Growth xxx 9.5% 94.1% xxx
DPS Growth xxx 50.9% 19.3% xxx
PE Ratio xxx N/A 14.8 xxx
Dividend Yield xxx N/A 3.0% xxx
Div Pay Ratio(%) xxx 71.9% 44.2% xxx

Dividend yield today if purchased 3 years ago: 4.23%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.50

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 © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx55.6
DPS All xxxxxxxxxxxxxxx40.0
Sales/Revenue xxxxxxxxxxxxxxx4,921.2 M
Book Value Per Share xxxxxxxxxxxxxxx765.6
Net Operating Cash Flow xxxxxxxxxxxxxxx2,070.4 M
Net Profit Margin xxxxxxxxxxxxxxx12.97 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.39 %
Return on Invested Capital xxxxxxxxxxxxxxx6.50 %
Return on Assets xxxxxxxxxxxxxxx4.88 %
Return on Equity xxxxxxxxxxxxxxx7.39 %
Return on Total Capital xxxxxxxxxxxxxxx10.33 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx433.5 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx152 M
Long Term Debt xxxxxxxxxxxxxxx1,192 M
Total Debt xxxxxxxxxxxxxxx1,344 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,120 M
Price To Book Value xxxxxxxxxxxxxxx1.70

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1,440.0 M
Capex % of Sales xxxxxxxxxxxxxxx29.26 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,760 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx131 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx183 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

0.5

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

3

xxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

04/12/2024

3

Downgrade to Neutral from Buy

$17.00

5.72%

Citi downgrades Northern Star Resources to Neutral from Buy and lowers the target price to $17 from $18.30 due to EPS dilution.

The broker highlights the De Grey Mining ((DEG)) acquisition contrasts with Northern Star's typical bolt-on or asset-turnaround strategy.

Citi emphasises Hemi is a Tier 1 greenfields ore body with long-term value accretion and an upgrade to Northern Star's portfolio. in the near term, risks are weighted against the company due to higher capex/opex and development challenges.

The analyst believes the deal detracts from the company's appeal as a "clean" gold exposure play.

Neutral rated. Target price $17.00 from $18.30. Citi's EPS forecasts are lowered by -4.5% in FY25 and -19.3% in FY26.

FORECAST
Citi forecasts a full year FY25 dividend of 48.00 cents and EPS of 103.70 cents.
Citi forecasts a full year FY26 dividend of 53.00 cents and EPS of 110.70 cents.

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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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Goldman Sachs

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Jarden

05/12/2024

4

Underweight

$13.10

-18.53%

Northern Star Resources has agreed to acquire De Grey Mining ((DEG)). De Grey's key asset is the 100%-owned, semi-refractory, Hemi gold project in the Pilbara. The acquisition would represent a significant departure from the historical Northern Star growth strategy, Jarden notes.

Jarden points out the acquisition of an undeveloped project which is yet to receive environmental approval effectively transfers material development, capital escalation and permitting risks to Northern Star shareholders.

The broker does nevertheless acknowledge the acquisition of Hemi is consistent with the miner's desire to buy/build a fourth production centre in a safe jurisdiction. Underweight and $13.10 target retained.

FORECAST
Jarden forecasts a full year FY25 dividend of 40.00 cents and EPS of 85.70 cents.
Jarden forecasts a full year FY26 dividend of 40.00 cents and EPS of 71.30 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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NST STOCK CHART

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