Northern Star Resources Reports 'Mixed' Result in March Quarter, Jarden Research Says

MT Newswires Live04-24

Northern Star Resources (ASX:NST) reported a "mixed" March quarter result, with operating metrics generally better than feared after the numerous guidance downgrades through the quarter, Jarden Research said in a Thursday note.

The company produced 387,000 ounces of gold and sold 381,000 ounces at an all-in sustaining cost of AU$2,709 per ounce.

However, financial outcomes were impacted by a poor gold price realization of AU$5,283 per ounce, about 24% below the prevailing average of AU$6,995 per ounce and 8% below Jarden estimates.

The company's revenue of AU$2 billion subsequently came in at around 11% below consensus, but 5% above Jarden estimates.

Jarden Research maintained its underweight rating on Northern Star Resources and lowered its price target to AU$22.30 from AU$22.50.

Northern Star Resources shares fell 3% in afternoon trade on Friday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment