Northern Star (NST) will soon become the largest Australian-owned gold miner, post-Newmont’s acquisition of Newcrest and it rallied +5.2% yesterday after reporting a solid +9% increase in revenue. Shareholders will receive a 15.5c dividend next month while the $300mn on-market buyback has been extended for an additional 12 months – only 42% was complete on June 30th. This solid result is the catalyst for our planned switch from NCM which is now trading ~4% below its theoretical all-stock takeover price – year-to-date NST is up +1.5% while NCM has soared +25%.
- We are looking at switching our 5% NCM position in our Flagship Growth Portfolio
MM is looking to switch from NCM to NST
Add To Hit List
chart
Northern Star (NST) v Newcrest Mining (NCM)
chart
Northern Star (NST) v Newcrest Mining (NCM)
