I just copied this from Arg's website Morning Note 27/10
Argonaut Research | Northern Star (NST) | SELL
NST reported production of 140koz @ AISC A$1,083/oz, vs Argonaut forecast of 141koz @ AISC A$1,070/oz. Normalised FCF was A$46m, after adjusting for A$11m in M&A costs and A$14m in working capital (as part of the A$43m working capital debit made to NST in FY15). These figures imply a normalised FCF margin of ~A$330/oz during the September Q. The stock offers scale, liquidity, FCF, dividends, an outstanding balance sheet, seasoned Australian domiciled operations and significant exploration upside. However given the recent strong share price appreciation (~43% premium to Argonaut’s valuation), Argonaut downgrades the stock to a SELL. A$2.20 valuation maintained.
Ouch, what was that for, page-37
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$16.79 |
Change
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Mkt cap ! $19.30B | |||
| Open | High | Low | Value | Volume |
| $17.00 | $17.14 | $16.78 | $60.45M | 3.571M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2844 | $16.75 |
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| Price($) | Vol. | No. |
|---|---|---|
| $16.80 | 2886 | 1 |
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