NORTHERN STAR RESOURCES LIMITED (NST)
Share Price Analysis and Chart

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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
$22.41 22 Sep 2025	1.700 OPEN $21.44	8.21% HIGH $22.47	8,094,927 LOW $20.85

TARGET

$20.875

-6.8% downside

Franking for last dividend paid out: 100%

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FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	112.6	115.2	xxx
DPS (cps)	xxx	55.0	41.9	xxx
EPS Growth	xxx	100.0%	2.3%	xxx
DPS Growth	xxx	37.5%	- 23.7%	xxx
PE Ratio	xxx	N/A	19.9	xxx
Dividend Yield	xxx	N/A	1.8%	xxx
Div Pay Ratio(%)	xxx	48.8%	36.4%	xxx

Dividend yield today if purchased 3 years ago: 7.34%

DIVIDEND YIELD CALCULATOR

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	2020	2021	2022	2023	2024	2025
EPS Basic	xxx	xxx	xxx	xxx	xxx	112.6
DPS All	xxx	xxx	xxx	xxx	xxx	55.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	6,414.9 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	1,045.4
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	2,953.5 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	20.88 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	11.30 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	10.16 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	7.77 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	11.30 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	15.63 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	363.9 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	248 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	1,462 M
Total Debt	xxx	xxx	xxx	xxx	xxx	1,710 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	1,690 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	1.77

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Capex	xxx	xxx	xxx	xxx	xxx	2,285.3 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	35.62 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	4,181 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	143 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	20 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.5

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
UBS	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgans	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	22/08/2025	3	Hold	$17.80	-20.57%	Northern Star Resources' FY25 underlying EBITDA and adjusted net profit were in line with expectations following detailed disclosure at the 4Q25 quarterly. Ord Minnett notes the final dividend of 30c was 5c higher than expected but no further buyback was announced after completion of $300m. The company guided to a slow start to FY26 production due to mill shutdowns but the broker is forecasting a strong recovery thereafter to deliver 1750koz vs the 1700-1850koz guidance. If this is achieved, the broker is eyeing 2000koz in FY27, aided by KCGM expansion. Hold retained. Target rises to $17.80 from $17.30. FORECAST Ord Minnett forecasts a full year FY26 dividend of 41.00 cents and EPS of 112.30 cents. Ord Minnett forecasts a full year FY27 dividend of 45.00 cents and EPS of 118.70 cents.
Citi	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Bell Potter	xx/xx/xxxx	-1	xx xxxxxx		xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgan Stanley	xx/xx/xxxx	1	xxxxxxx xx xxxxxxxxxx xxxx xxxxx-xxxxxx	$xx.xx (xx/xx/xxxx)	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Canaccord Genuity	25/08/2025	1	Buy	$24.40	8.88%	Northern Star Resources' FY25 underlying EBITDA of $3.5bn met Canaccord Genuity's forecast, and cash earnings of $2.9bn was also in line with guidance and the broker's forecast. The company guided to FY26 sales of 1.70-1.80Moz at cost of $2,300-2,700/oz, prompting the broker to lower sales forecast by -1% to 1.74Moz and lift cost forecast by 1% to $2,501/oz. Buy. Target rises to $24.40 from $24.10. 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.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

xx/xx/xxxx

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Canaccord Genuity

25/08/2025

Buy

$24.40

8.88%

Northern Star Resources' FY25 underlying EBITDA of $3.5bn met Canaccord Genuity's forecast, and cash earnings of $2.9bn was also in line with guidance and the broker's forecast.

The company guided to FY26 sales of 1.70-1.80Moz at cost of $2,300-2,700/oz, prompting the broker to lower sales forecast by -1% to 1.74Moz and lift cost forecast by 1% to $2,501/oz.

Buy. Target rises to $24.40 from $24.10.

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 >

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Latest Gold & Silver News

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3	Plenty Of Potential For Greatland Resources Jul 04 2025 - Commodities

4	Evolution’s Pullback An Opportunity? Jul 01 2025 - Technicals

5	Silver Is On the Move Jun 10 2025 - Technicals

6	De Grey Offsets Northern Star’s Production Doubt May 05 2025 - Commodities

7	Evolution Mining Outperforming, Too Much Apr 17 2025 - Australia

8	Favourite ASX-Gold Exposures Apr 09 2025 - Commodities

9	The Risk For Gold Heading Into A Tariff Storm Mar 26 2025 - Technicals

10	Northern Star Has Broken Out Mar 18 2025 - Technicals

Dividend Yield Today On Last Actual Payout :	2.40
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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NORTHERN STAR RESOURCES LIMITED (NST)
Share Price Analysis and Chart