Gold miner Northern Star fell 3.2 per cent to $14.79 following mixed results in the third quarter and a broad sell-off in gold stocks.
Output came below forecasts due to weather issues in Western Australia but that was offset by a better-than-expected gold quality at its KCGM site.
“We consider the better grades of the Golden Pike North area somewhat reassuring that Q4 and FY25 grades can shift higher, and we expect throughput will lift as inclement weather abates,” said RBC Capital Markets analyst Alex Barkley.
Northern Star’s regional fiscal 2024 guidance changes were broadly in line with RBC.
“Overall, we consider this a neutral result,” said Mr Barkley, who has a price target at $15 with an outperform rating.
