Northern Star Resources' 2Q production was in line with Morgan Stanley's forecast and FY24 management guidance was maintained. Production is expected to be 2H-weighted driven by higher milling rates at Thunderbox and grades from Pogo.

There were production beats at Carosue Dam Operations (CDO) and KCGM offset by misses at Jundee and Kalgoorlie due to lower milling rates, explains the broker.

Equal-weight. Target $12.95. Industry view is Attractive.

Sector: Materials.

Target price is $12.95.Current Price is $12.81. Difference: $0.14 - (brackets indicate current price is over target). If NST meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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