Image source: Roman Bodnarchuk

Highlights

  • Northern Star reported cash earnings of AUD 1,223 million in FY23
  • The solid cash earnings led to declaration of a final dividend of 15.5 cents per share
  • NST’s estimated range of growth capital expenditure for FY24 is AUD 1,150 – 1,250 million

Northern Star Resources Limited (ASX: NST) is a gold producing firm with operations in Australia and North America. It is a global company which is focused on the exploration, mining, development and processing of gold deposits and selling refined gold.

In the financial year 2023 (FY23), the company achieved its guidance with gold sales of 1,563Koz at an AISC of AUD 1,759/oz. The period also witnessed record cash earnings of AUD 1,223 million, projecting the company’s solid financial and operational performance.

Revenue in FY23 was AUD 4,131 million, and underlying NPAT was AUD 301 million.

The table below shows the historical financial trend of NST.

Dividend

The company had declared a final dividend of 15.5 cents per share. The record date was 6 September 2023, and the pay date is 12 October 2023. The dividend announced is unfranked.

Top 10 shareholders of NST

The top 10 shareholders of NST have approximately 29.79% shareholding in the company. Van Eck Associates Corporation and BlackRock Investment Management (UK) Ltd. have the maximum interest in the group, with shareholdings of ~6.52% and ~5.34%, respectively.

Recent business update

Through an ASX filing dated 3 October 2023, the company informed that it is going to release its quarterly report for the quarter ended 30 September 2023 on 10 October 2023.

Outlook

The company said it is on track to deliver total gold sales of 1,600-1,750 Koz at an estimated AISC of AUD 1,730- 1,790/oz.

The estimated range of growth capital expenditure for FY24 is AUD 1,150 – 1,250 million.

Share performance of NST

NST shares closed 1.51% up at AUD 11.4 apiece on 10 October 2023. With this, in the last one year, NST’s share price has increased by 38.52%, while in the past six months, it has dropped by 15.30%.

The 52-week high of NST is AUD 14.44 apiece, recorded on 14 April 2023, and the 52-week low is AUD 7.65 apiece, recorded on 17 October 2022. NST’s last trading price is 49.02% higher than its 52-week low.

NST daily Technical Chart, source: REFINITIV

 

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

 

Note 2: The reference date for all price data, currency, is 10 October 2023. The reference data in this report has been partly sourced from REFINITIV.