Citi Raises Price Target for Northern Star Resources Amid De Grey Mining Takeover Review

Fri 14 Mar 25, 12:06 AM | Team Kalkine

Image source: Shutterstock

Highlights

Citi lifts Northern Star Resources price target to AU$18 from AU$17.90.

Independent review values De Grey Mining at AU$4–4.8 billion, below NST’s AU$7.95 billion offer.

Nine out of 15 analysts rate NST a "buy" or higher, with a median PT of AU$20.25.

Citi analysts have raised the price target for Australian gold miner Northern Star Resources (ASX:NST) to AU$18, up from AU$17.90, following an independent expert review of De Grey Mining’s (ASX:DEG) valuation. De Grey, a takeover target for Northern Star, was valued between AU$4 billion ($2.51 billion) and AU$4.8 billion ($3.02 billion) — notably lower than NST’s AU$7.95 billion offer.

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