Jefferies reiterates 'buy on Northern Star Resources

BUZZ – Jefferies reiterates 'buy' rating on Northern Star Resources

08 Jul 2021 07:43

• * Jefferies reiterate "buy" rating and a price target of
  A$14.60 for shares of gold producer Northern Star Resources
• * Brokerage says NST has "underperformed the majority of its ASX gold producing peers over the course of CY21 (calendar year 2021)" but sees the "underperformance closing over the coming six months"
• * Says co is likely to reach its full year 2021 production guidance of between 1.54 and 1.70 million ounces (moz)
• * Adds the KCGM (Kalgoorlie Consolidated Gold Mines) operations in Western Australia will be the company's "engine room" in the fourth quarter, possibly helping reach the production guidance
• * Strong performance at KCGM could also underpin potential to reach production of 2 million ounces in the future
• * 12 of 13 analysts rate the stock "buy" or higher, 1 rate it "hold"; their median PT is A$13.4 – Refinitiv data
• * Stock has fallen 20.1% this year, as of last close