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: 0.61
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

$19.17

02 May
2025

0.130

OPEN

$18.95

0.68%

HIGH

$19.22

6,231,496

LOW

$18.71

TARGET
$22.553 17.6% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
NST: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 55.6 106.8 xxx
DPS (cps) xxx 40.0 49.8 xxx
EPS Growth xxx 9.5% 92.1% xxx
DPS Growth xxx 50.9% 24.6% xxx
PE Ratio xxx N/A 18.0 xxx
Dividend Yield xxx N/A 2.6% xxx
Div Pay Ratio(%) xxx 71.9% 46.7% xxx

Dividend yield today if purchased 3 years ago: 4.14%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.08

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 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

0.6

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$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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UBS

30/04/2025

1

Buy

$25.80

34.59%

Northern Star Resources March quarter production of 388koz missed consensus by -6% and prompted a downgrade to FY25 production guidance by -5%, along with -5% worse cost guidance.

UBS now models FY25 production at 1.60moz, down from 1.65moz, and cost (AISC) of $2,120/oz. The downgrade overshadows the initial integration modelling of Hemi, although the broker views the acquisition as accretive across key metrics.

The broker highlights downside risk to FY26 production targets at KCGM, where the underground ramp-up has lagged and access to higher-grade open pit ore has been delayed. 

UBS retains a Buy rating and $25.80 target price, underpinned by strong cash flows, accretive acquisitions, and a long-term gold price assumption of US$2,200/oz. 

FORECAST
UBS forecasts a full year FY25 dividend of 47.00 cents and EPS of 92.00 cents.
UBS forecasts a full year FY26 dividend of 59.00 cents and EPS of 187.00 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
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

1

xxx

$xx.xx

xx.xx%

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Jarden

03/05/2025

3

Neutral

$18.30

-4.54%

Plenty of disappointment in Northern Star Resources' 3Q25 result, but the impact on Jarden's EBITDA forecasts was limited because of conservative pre-result forecasts.

The 3Q production missed the broker's estimate by -6%, sales by -7%, and cost was 6% higher. The company cut FY25 production guidance and lifted cost guidance more materially, leading the broker to cut production forecast by -2% and increase cost forecast by 3%.

The analyst believes the company will also likely downgrade its previous FY26 production target of 2moz. EBITDA forecast for FY25 cut by -3% and by -4% for FY26.

Target rises to $18.30 from $18.10. Neutral maintained as the broker balances the target using US$2,200/oz long-term gold price forecast vs implied valuation of $34.50 at spot gold price.

FORECAST
Jarden forecasts a full year FY25 dividend of 55.00 cents and EPS of 113.70 cents.
Jarden forecasts a full year FY26 dividend of 60.00 cents and EPS of 143.90 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

NST STOCK CHART

FNArena News on NST

1
Australian Broker Call *Extra* Edition – May 05, 2025

10:35 AM - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 02-05-25

10:00 AM - Weekly Reports
3
Next Week At A Glance – 5-9 May 2025

May 02 2025 - Weekly Reports
4
Rudi’s View: Mag7 Dominance & Profit Warnings

May 01 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Apr 30, 2025

Apr 30 2025 - Daily Market Reports

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