BUZZ-Australia's Northern Star Resources rises; Macquarie hikes earnings view for gold miner

Reuters04-24

** Shares of Northern Star Resources rise as much as 1.6% to A$14.980

** Analysts at Macquarie increase earnings per share estimate for NST by 3%, 2%, 7% and 9% for FY24, FY26, FY27 and FY28, respectively

** Macquarie expects the gold miner to report better results in fourth quarter

** Co said it is on track to deliver FY24 outlook of 1,600-1,750koz gold sold at an all-in sustaining cost (AISC) of A$1,810-1,860/oz

** Brokerage also anticipates a modest rebound in process throughput at Carouse Dam and continues to forecast 1.64Moz of gold production in FY24 with 459koz ounces in 4QFY24

** Ten of 16 analysts rate the stock "buy" or higher, five "hold" and one "sell" or lower; their median PT is A$15.00 – LSEG data

** Stock has risen 8% this year, as of last close

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

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