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: 0.4
Index: ASX20 | 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

$26.73

11 Nov
2026

0.110

OPEN

$25.80

0.41%

HIGH

$26.73

3,983,254

LOW

$25.49

TARGET
$27.50 2.9% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
NST: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 116.5 118.6 xxx
DPS (cps) xxx 55.0 45.5 xxx
EPS Growth xxx 3.4% 1.8% xxx
DPS Growth xxx 0.0% - 17.3% xxx
PE Ratio xxx N/A 22.1 xxx
Dividend Yield xxx N/A 1.7% xxx
Div Pay Ratio(%) xxx 47.2% 38.4% xxx

Dividend yield today if purchased 3 years ago: 4.72%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.10

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: 09/09 - ex-div 30.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx116.5
DPS All xxxxxxxxxxxxxxx55.0
Sales/Revenue xxxxxxxxxxxxxxx7,623.1 M
Book Value Per Share xxxxxxxxxxxxxxx1,101.7
Net Operating Cash Flow xxxxxxxxxxxxxxx3,183.3 M
Net Profit Margin xxxxxxxxxxxxxxx21.83 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx10.88 %
Return on Invested Capital xxxxxxxxxxxxxxx9.94 %
Return on Assets xxxxxxxxxxxxxxx7.74 %
Return on Equity xxxxxxxxxxxxxxx10.88 %
Return on Total Capital xxxxxxxxxxxxxxx15.47 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-73.0 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx314 M
Long Term Debt xxxxxxxxxxxxxxx1,411 M
Total Debt xxxxxxxxxxxxxxx1,725 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,018 M
Price To Book Value xxxxxxxxxxxxxxx1.72

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx2,712.7 M
Capex % of Sales xxxxxxxxxxxxxxx35.59 %
Cost of Goods Sold xxxxxxxxxxxxxxx4,800 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx190 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx33 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

0.3

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

09/11/2026

1

Buy

$31.10

16.35%

UBS explains Gold Fields' Australian operations offer quality assets and opportunities for production growth and cost reductions, post site visits to St Ives, Granny Smith and Gruyere, and contribute over 40% of group EBITDA and 1.2Moz of FY25 production.

Gold Fields is targeting Australian production growth to 1.4Moz from 1.2Moz, with AISC expected to fall materially from around US$2,100/oz.

The analyst highlights potential synergies with Northern Star Resources' WA assets, with Gold Fields estimating US$4bn–US$5bn in total synergies.

There is scope for portfolio rationalisation under the new CEO regarding Northern Star with greater focus on KCGM, Hemi and Pogo, which account for over 80% of its valuation, potentially supporting a re-rating. Target unchanged at $31.10.

FORECAST
UBS forecasts a full year FY27 dividend of 47.00 cents and EPS of 116.00 cents.
UBS forecasts a full year FY28 dividend of 71.00 cents and EPS of 170.00 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

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

Canaccord Genuity

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Jarden

23/10/2026

3

Upgrade to Neutral from Underweight

$24.00

-10.21%

Jarden lifts its rating for Northern Star Resources to Neutral from Underweight with its target price decreased to $24.00 from $24.20 following a September quarter production report featuring 354koz of gold.

Cash generation proved unexpectedly weak during the period, prompting the company to draw down -$500m in debt to fund the final FY26 dividend payment.

Realised gold prices fell -9% short of consensus expectations at roughly $5,000/oz, heavily dragged down by the existing hedge book and reduced payability on KCGM concentrate sales.

The analyst delays Hemi final investment decision expectations to late 2027 and pushes first production to FY31, driving a -4% reduction in FY27 EBITDA estimates to $4,461m.

Despite these operational challenges, Jarden upgrades the stock due to the high probability of further corporate approaches from Gold Fields or other suitors following the recently rejected $27.00 per share takeover proposal.

FORECAST
Jarden forecasts a full year FY27 dividend of 50.00 cents and EPS of 130.30 cents.
Jarden forecasts a full year FY28 dividend of 50.00 cents and EPS of 201.70 cents.
Access Extra Coverage Research History >

NST STOCK CHART

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