December quarter production for Northern Star Resources exceeded Credit Suisse estimates. The beat was largely derived from Kalgoorie Consolidated Gold Mines on better ore volumes and grade (as waste was deferred).
The broker reiterates the company is a preferred gold pick and raises its target price to $10.80 from $10.20. Outperform.
Target price is $10.80.Current Price is $9.83. Difference: $0.97 – (brackets indicate current price is over target). If NST meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).