30/11/2023 09:10

Northern Star Resources (NST) $12.67

It would have been easy for us to have written a whole report on gold this morning, but it would have been very repetitive of recent notes; hence, we have just selected one stock that stood out to MM on Wednesday. Gold and gold stocks continue to look great, typified by NST yesterday as it rallied +4.4%, breaking out to a fresh 4-month high in the process.

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10/10/2023 09:22

Northern Star Resources Ltd (NST) $11.23

NST closed up +4% yesterday, in the middle of the pack of a strong session for local gold stocks. The stock has struggled since reporting in April, correcting over 30%, although the pullback by gold undoubtedly compounded the weakness

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29/08/2023 09:16

Northern Star Resources (NST) $11.47

Last week we switched our 5% Newcrest (NCM) position into NST, a move we’ve been flagging for many weeks following the takeover bid for NCM by Newmont (NEM US).  The trigger for the move was NST’s solid earnings numbers this month, the miner reported a +9% increase in revenue allowing the miner to pay a 15.5c dividend in September plus extend its buyback for an additional 12-months.

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25/08/2023 11:04

Flagship Growth Portfolio – Amendments

We are making multiple changes to the Flagship Growth Portfolio

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25/08/2023 09:27

Northern Star Resources (NST) v Newcrest Mining (NCM)

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%.

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18/08/2023 09:10

Newcrest Mining (NCM) v Northern Star Resources (NST)

MM has 5% of our Flagship Growth Portfolio in NCM, the stocks been a significant outperformer in 2023 rallying +21.5% courtesy of the takeover bid from the world’s largest gold company Newmont Corp (NEM US).

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20/07/2023 09:27

Newcrest Mining (NCM) v Northern Star Resources (NST)

Takeover target NCM is this morning trading 4.6% below its theoretical purchase price by NEM, although this changes with multiple factors at play, our question is rapidly becoming where to put the money as we plan to maintain an overweight stance toward the sector. So far in 2023 NST is +22.6% while NCM has surged +35% courtesy of an all-scrip takeover bid from NEM.

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19/07/2023 17:00

Northern Star (NST) $12.59

NST -5.83%: when most gold stocks traded flat or higher, Northern Star struggled following a soft 4Q production update. Gold sales of 426koz in the last quarter, taking their FY23 total to 1.56moz, at the low end of guidance.

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06/07/2023 09:04

Northern Star Resources Ltd (NST) $12.72

In line with most of the local sector, NST has corrected -17% from its May high, taking it back to the middle of its last 3-year trading range even while gold in $A terms powers towards new highs i.e. the sectors not in vogue due to rising interest rates.  In our opinion, NST is basically a direct gold play as each rise of +US$100/oz gold increases our valuation of NST by $1 and vice versa e.g. if gold rallies back toward $US2,200 then NST should be testing $16.

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08/06/2023 09:28

Northern Star Resources (NST) $13.44

Gold has figured prominently in MM’s portfolio over recent months and we see no reason to change this through 2023 although the sector is under pressure at this point in time courtesy of rising interest rates. We like NST for sector exposure and are considering it as an alternative to Newcrest (NCM) depending on how the Newmont (NEM US) takeover unfolds.

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