Northern Star Resources provided 4QFY20 trading update with production at 267 k/oz and sales 263 k/oz. Kalgoorlie and Jundee offset weaker results at Super Pit.
NST will resume dividend payments and the balance sheet improves following the paydown of $200m of debt.
FY21 dividend yield increases to 2% with forecast EBIT of $1.2bn
We have a price target on NST of $15.50
Northern Star Resources is under Algo Engine buy conditions and a current holding in our ASX 100 model portfolio.
We recommend investors buy NST.
Northern Star Resources March quarter production was weaker than market expectations. COVID-19 had an impact with reduced staffing slowing development and impacting mine schedules.
NST is confident the initial disruption to operations has passed and is expecting a stronger June.
We look to buy NST below $12.50
Northern Star Resources is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see value emerging in NST and suggest investors continue to accumulate at the current price level.
The below post is a copy of a publication on the 18th of October. Since making the post, gold stocks have performed well and we now look to trim the gains and rotate into oversold industrial & REIT names.
Vaneck Vectors Gold Miners is under Algo Engine buy conditions following the entry condition earlier this year at $30. It is a current holding in our ALL ASX ETF model portfolio.
GDX ETF has corrected from $45 to $38 over the past 8 weeks. We feel buying support will now begin to increase.
Individual names are also now appearing on the radar, such as Newcrest Mining Northern Star Resources, Evolution Mining, OceanaGold and Gold Road Resources.
Northern Star Resources is under Algo Engine buy conditions and is a current holding in our US S&P100 model portfolio.
Gold remains under pressure as US yields push higher during the current “risk on” phase in the market. We are also experiencing selling in the “yield sensitive” securities such as consumer staples, utilities, infrastructure and REITs.
We now forecast price support developing in NST near $8.00.
As the gold price finds buying support our basket of preferred names, Northern Star Resources, Evolution Mining, Newcrest Mining and Vaneck Vectors Gold Miners are among the best percentage performers today.
We continue to like Northern Star Resources as our main gold play.
Northern Star Resources is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see buying support building near the $10 range.
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Northern Star Resources is under Algo Engine buy conditions and a current holding in the ASX 100 model portfolio.
The stock has recently retraced from $14.00 back down to $11.50. We expect to see buying support increase for Northern Star and other gold produces.
Also, review EVN & GOR.
Long-term graph of the gold price.
Newcrest Mining will pay US$807m to Canadian listed Imperial Metals for the proposed acquisition of 70% of the Red Chris mine.
The opportunity provides for operational improvements and possible long-term exploration upside.
We continue to view Newcrest as expensive and prefer Evolution Mining, OceanaGold and Northern Star Resources as our gold exposure.
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