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

$23.79

30 Oct
2025

-0.090

OPEN

$23.30

-0.38%

HIGH

$24.00

5,043,280

LOW

$23.30

TARGET
$26.623 11.9% 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 112.6 138.0 xxx
DPS (cps) xxx 55.0 52.0 xxx
EPS Growth xxx 100.0% 22.5% xxx
DPS Growth xxx 37.5% - 5.4% xxx
PE Ratio xxx N/A 17.9 xxx
Dividend Yield xxx N/A 2.1% xxx
Div Pay Ratio(%) xxx 48.8% 37.7% xxx

Dividend yield today if purchased 3 years ago: 6.29%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.23

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 37.3114.737.050.855.6112.6
DPS All 27.019.021.526.540.055.0
Sales/Revenue 1,971.7 M2,760.5 M3,735.4 M4,131.1 M4,921.2 M6,414.9 M
Book Value Per Share 289.6685.7706.3738.7765.61,045.4
Net Operating Cash Flow 710.4 M1,076.8 M1,599.2 M1,351.5 M2,070.4 M2,953.5 M
Net Profit Margin 13.10 %37.40 %11.51 %14.17 %12.97 %20.88 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 15.85 %20.40 %5.31 %7.01 %7.39 %11.30 %
Return on Invested Capital 13.84 %18.16 %4.94 %6.41 %6.50 %10.16 %
Return on Assets 9.05 %13.31 %3.74 %4.85 %4.88 %7.77 %
Return on Equity 15.85 %20.40 %5.31 %7.01 %7.39 %11.30 %
Return on Total Capital 21.28 %8.02 %4.41 %9.60 %10.33 %15.63 %
Free Cash Flow ex dividends 375.5 M218.7 M762.6 M176.1 M433.5 M363.9 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 361 M87 M121 M139 M152 M248 M
Long Term Debt 450 M802 M391 M1,183 M1,192 M1,462 M
Total Debt 811 M888 M512 M1,322 M1,344 M1,710 M
Goodwill - Gross ------
Cash & Equivalents - Generic 677 M772 M571 M1,133 M1,120 M1,690 M
Price To Book Value 4.611.430.971.641.701.77

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 362.7 M693.1 M1,028.7 M1,059.2 M1,440.0 M2,285.3 M
Capex % of Sales 18.39 %25.11 %27.54 %25.64 %29.26 %35.62 %
Cost of Goods Sold 1,459 M2,196 M3,237 M3,553 M3,760 M4,181 M
Selling, General & Admin. Exp & Other 74 M90 M110 M-312 M131 M143 M
Research & Development ------
Investments - Total 22 M24 M185 M191 M183 M20 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

0.7

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx 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

24/10/2025

1

Outperform

$30.00

26.10%

Northern Star Resources' Sep Q production was a -3% miss to consensus while costs were a 7% beat. The company retained guidance but noted incidents at Jundee and South Kalgoorlie will drag on the Dec Q, with indications this can be caught up.

Northern Star retained FY26 sales and cost guidance, noting that Sep Q sales equate to 21% of the midpoint of FY26 guidance. Importantly, notes Macquarie, the KCGM mill expansion remains on track for commissioning in early FY27.

While progressing to plan, timing and cost control of the KCGM expansion is important, Macquarie warns. Outperform and $30 target retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 54.70 cents and EPS of 165.40 cents.
Macquarie forecasts a full year FY27 dividend of 74.90 cents and EPS of 235.00 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

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%

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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

29/09/2025

1

Buy

$27.90

17.28%

Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.

For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.

This has resulted in an average 13% rise in the broker's target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.

Ahead of the September quarterly, the broker expects Northern Star Resources' production to be -12% lower vs the June quarter and -1% below consensus. Cost forecast of $2,753/oz is 1% higher than consensus.

Buy. Target rises to $27.90 from $24.40.

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

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