Northern Star Cuts FY26 Output Guidance After One-Off Disruptions but Sticks to Expansion Plans

Northern Star Resources Ltd ( (AU:NST) ) has issued an update.

Northern Star reported December-quarter gold sales of 348,061 ounces at an elevated all-in sustaining cost of A$2,937 per ounce, with group free cash flow negative and net mine cash at A$129 million. Performance was hit by one-off operational disruptions, including a primary crusher failure at KCGM, extended recovery works at Jundee, unplanned mill downtime at Thunderbox and lower grades from new mining areas at Pogo, prompting a downgrade to FY26 production guidance to 1.6–1.7 million ounces and a higher cost outlook of A$2,600–2,800 per ounce. Despite the softer quarter and higher all-in costs driven by ongoing capital growth projects, Northern Star retains a net cash balance of A$293 million, expects stronger free cash generation as production rises and hedge commitments roll off, and is maintaining or increasing investment in key projects, with the KCGM Mill Expansion still on schedule for early FY27 and associated mill readiness and tailings capex being raised to support a structurally lower-cost, higher-margin production base.

The most recent analyst rating on (AU:NST) stock is a Buy with a A$28.20 price target. To see the full list of analyst forecasts on Northern Star Resources Ltd stock, see the AU:NST Stock Forecast page.

More about Northern Star Resources Ltd

Northern Star Resources Ltd is an Australian-listed gold miner with core production centres at Kalgoorlie, Yandal and Pogo. The company focuses on large-scale, long-life gold operations in Australia and North America, supported by significant growth projects such as the KCGM Mill Expansion and the Hemi Development Project to lift output and lower unit costs over time.

Average Trading Volume: 5,792,550

Technical Sentiment Signal: Buy

Current Market Cap: A$39.58B

See more data about NST stock on TipRanks’ Stock Analysis page.